Fortress Private Lending Fund Amends Credit Facility, Revolver Now $500M

What Happened
Fortress Private Lending Fund filed an 8-K disclosing a First Amendment (dated September 17, 2026) to its Senior Secured Revolving Credit Agreement with The Bank of Nova Scotia as administrative agent. The amendment increases borrowing capacity, extends the revolver availability and maturity dates, reduces borrowing margins, and resets certain covenant tests. The Company also reported a September unregistered sale of Class I shares, its August 31, 2026 NAV, a September dividend, and portfolio metrics.

Key Details

• Credit facility changes (Scotia Facility): maximum principal increased from $400.0M to $500.0M; accordion expanded to permit up to $1.0B total facility; revolver availability extended from August 2029 to September 2030; scheduled maturity moved from August 2030 to September 2031; applicable borrowing margin reduced; minimum shareholders’ equity test reset. Amendment dated September 17, 2026.
• Financing / obligations: the amendment amends the Company’s senior secured credit facility (creating/altering the related direct financial obligation disclosed in the filing).
• Share issuance: during September 2026 the Company sold 1,065,109 Class I shares for aggregate proceeds of $25.77M (price = NAV per share as of August 31, 2026); number of shares finalized on September 18, 2026.
• NAV, portfolio and distribution: Class I NAV was $24.1947 as of August 31, 2026; aggregate NAV ≈ $1.1B; portfolio fair value ≈ $2.0B across 92 companies; debt outstanding ≈ $886.7M. Company declared a September 2026 distribution of $0.1834 per Class I share (record date Sept 30, 2026; pay date on or about Oct 22, 2026).

Why It Matters
The credit amendment materially increases Fortress’s near-term liquidity and borrowing capacity and pushes out the facility maturity, which can reduce near-term refinancing pressure. A lower margin on borrowings can reduce interest expense when drawn. The disclosed NAV, portfolio size ($2.0B fair value) and debt levels (~$886.7M) give investors current context on leverage and scale, while the share sale ($25.8M) and ongoing exempt offering show continued capital raising. The distribution and portfolio metrics (e.g., ~98% first-lien, ~99.9% floating-rate, weighted yields ~9.9–10.1%) provide additional data points about income generation and portfolio risk profile.