26North BDC, Inc. Amends Subscription Facility, Extends Maturity to 2027

What Happened 26North BDC, Inc. filed an 8-K (dated August 20, 2026) disclosing that on August 14, 2026 it entered into Amendment No. 3 to its Loan and Security Agreement (the “Subscription Facility”), originally dated February 7, 2025. The amendment, among the borrower (26North BDC), 26North Direct Lending LP (portfolio manager), the lenders party thereto and JPMorgan Chase Bank, N.A. (administrative agent), changes key facility terms including extending the scheduled maturity and adjusting advance mechanics.

Key Details

• Amendment No. 3 dated August 14, 2026 extends the Subscription Facility’s scheduled maturity date to August 13, 2027.
• The amendment increases the facility’s Advance Rate, but only upon satisfaction of specified “Minimum Funded Conditions.”
• New covenants were added that relate to those Minimum Funded Conditions.
• The filing also reports the creation or modification of a direct financial obligation under Item 2.03; the 8-K was signed by CFO Jonathan Landsberg.

Why It Matters This amendment affects the company’s borrowing terms and timing for when the facility must be repaid or refinanced. Extending the maturity gives 26North BDC more time before the facility comes due, and an increased Advance Rate (subject to conditions) could improve near-term liquidity capacity if the funded conditions are met. Investors should note the change in debt terms and any future disclosures about whether the Minimum Funded Conditions are satisfied, as that will determine the practical impact on available borrowings.