Palmer Square Capital BDC Inc. 8-K

What Happened

• Palmer Square Capital BDC Inc. (through its wholly‑owned indirect subsidiary Palmer Square BDC CLO 1, Ltd.) announced on June 18, 2026 that it priced a refinancing (the “CLO Reset Transaction”) of a $300.00 million term debt securitization. The transaction is expected to close on July 15, 2026, and the Company will continue to serve as collateral manager after closing.
• The refinancing is being executed by private placement of Palmer Square BDC CLO 1 Secured Notes under the existing indenture (originally dated May 23, 2024) as amended by a supplemental indenture effective on the Refinancing Date.

Key Details

• Transaction size and classes: $300.00 million total — $228.00 million of AAA Class A Notes (Term SOFR + 1.28%) and $72.00 million of AA Class B Notes (Term SOFR + 1.75%).
• Maturity and structure: Palmer Square BDC CLO 1 Notes are expected to mature July 15, 2039; they are secured obligations of the Issuer and governed by customary covenants and events of default in the indenture.
• Risk retention and ownership: The Company will retain 100% of the subordinated notes issued at the Original Closing Date, in compliance with U.S. Risk Retention Rules and EU/UK Securitization Regulations.
• Placement and registration: The notes are being offered in a private placement and have not been, and will not be, registered under the U.S. Securities Act or state “blue sky” laws.

Why It Matters

• The filing provides concrete terms of the refinancing (amount, classes, interest spreads, expected close date and maturity), which determine the new secured debt costs and the capital structure of the CLO vehicle that the Company manages.
• Retaining 100% of the subordinated notes and continuing as collateral manager underscores the Company’s ongoing exposure and regulatory compliance on this deal — facts investors can use when assessing alignment of interests and potential impacts on future cash flows from this CLO.