Fidelity Private Credit Co LLC 8-K

What Happened

• Fidelity Private Credit Company LLC (the Fund) filed an 8-K on July 14, 2026 disclosing a Consent and Fifth Amendment to its Loan and Security Agreement dated July 9, 2026. The amendment involves Fidelity Direct Lending Fund I JSPV LLC (JSPV), a wholly owned subsidiary, JPMorgan Chase Bank, N.A. as administrative agent, other lenders, and relevant collateral agents.
• The Fifth Amendment (i) provides lender and agent consent to the Fund’s previously disclosed merger into Fidelity Private Credit Company II LLC (Fund II), (ii) memorializes that Fund II will assume the Fund’s obligations under the loan agreement upon closing of the merger, and (iii) changes the structure and amounts of the Fund’s financing commitments.

Key Details

• Amendment date: July 9, 2026; Form 8-K filed July 14, 2026.
• Tranche B financing: converted from term loan commitments to revolving loan commitments totaling $200,000,000 (borrow, repay and re-borrow during the Reinvestment Period).
• Tranche A financing: aggregate principal commitment reduced from $800,000,000 to $500,000,000.
• The amendment expressly consents to the Fund’s merger into Fund II (previously disclosed March 24, 2026) and provides for Fund II to assume the Fund’s loan obligations upon consummation.

Why It Matters

• For investors, these changes affect the Fund’s borrowing capacity and flexibility: converting Tranche B to a $200M revolver increases short-term liquidity flexibility, while the $300M reduction in Tranche A cuts committed long-term capacity.
• The lenders’ consent and the assumption language help ensure continuity of the credit facility through the merger, reducing operational disruption and clarifying which entity will be responsible for outstanding obligations after closing.
• These are material credit-structure changes that can influence the Fund’s ability to finance investments and manage cash flow; investors should watch for the merger closing and any further amendments or disclosures.