26North BDC, Inc.: amends loan facility

What happened The filing says 26N DL Funding 1 LLC, a wholly owned subsidiary of 26North BDC, Inc., entered into Amendment No. 5 to its Loan and Security Agreement on Oct 9, 2026. The amendment, among other changes, extends the Scheduled Termination Date of the Facility to Oct 9, 2031, changes the interest to a benchmark (SOFR, SONIA, SARON, EURIBOR or CORRA, or if SOFR is not available a replacement or a base rate) plus a margin of 2.00% per annum, revises advance and fee terms, and reduces a concentration limit for ARR Portfolio Investments. The filing states borrowings under the Facility remain subject to covenants in the related agreements and to leverage restrictions under the Investment Company Act of 1940, as amended.

Key details

• Amendment No. 5 effective Oct 9, 2026, to the Loan and Security Agreement dated Oct 18, 2023.
• Scheduled Termination Date extended to Oct 9, 2031.
• Interest modified to a benchmark rate (SOFR/SONIA/SARON/EURIBOR/CORRA or base rate) plus a margin of 2.00% per annum.
• Advance rate revised to 55% (with possible increases to 57.5% and/or 60% at the company's election), Commitment Fee Rate reduced to 0.70% per annum, and Concentration Limitation for ARR Portfolio Investments reduced to 15%.

Why it may matter The filing reports Item 1.01 (entry into a material definitive agreement) and Item 2.03 (creation of a direct financial obligation), covering amendments to the company's borrowing facility that change interest, advance, fee, termination date and concentration terms. The filing does not show why the insider traded or why the company acted.