Onex Direct Lending BDC Fund 8-K

What Happened
On January 29, 2026 (reported on Form 8‑K filed January 30, 2026), the Board of Trustees of Onex Direct Lending BDC Fund approved termination of the amended and restated revolving loan agreement (the “A&R Revolving OCF II Loan”) with Onex Credit Finance II Corporation. On the same date the Company entered into a new revolving loan agreement (the “Revolving OUSH Loan”) with Onex US Holdings LLC, a subsidiary of the ultimate parent of the Company’s investment adviser. The Revolving OUSH Loan is intended to provide funds to finance investments, pay related costs and expenses, and for general corporate purposes. The loan agreement is attached as Exhibit 10.1 to the filing.

Key Details

• Date of actions: January 29, 2026 (8‑K filed January 30, 2026).
• Terminated lender: Onex Credit Finance II Corporation (affiliate of the adviser’s ultimate parent).
• New lender: Onex US Holdings LLC (affiliate of the adviser’s ultimate parent).
• Purpose: revolving credit to fund investments, cover related costs/expenses and general corporate needs.
• Material terms (loan amount, interest rate, maturity) were not disclosed in the 8‑K; the Revolving OUSH Loan is filed as Exhibit 10.1.

Why It Matters
This filing documents a change in the Company’s revolving credit arrangement and lender within related Onex affiliates, which affects the Company’s short‑term funding structure and liquidity sources. Because the filing does not disclose pricing or size, investors should review the attached Revolving OUSH Loan (Exhibit 10.1) and watch for subsequent disclosures that provide financial terms or impacts on the Company’s liquidity and financing costs.