Mount Logan Capital Inc.: amends credit agreement and cancels $15,000,000 note

What happened

• Mount Logan Capital Inc. filed an 8-K reporting that on Oct 9, 2026, MLC US Holdings LLC ("MLC Sub"), a wholly owned indirect subsidiary, entered into a Limited Waiver, Partial Collateral Release and Amendment No. 6 to the Credit Agreement.
• The filing reports that on Sep 29, 2026, Alternative Credit Income Fund ("ACIF") merged into BC Partners Lending Corporation ("BCPLC"), the ACIF investment management agreement with Sierra Crest Investment Management LLC ("SCIM") was terminated, and SCIM assigned rights under a revenue share agreement to MLC Sub in full satisfaction of the SCIM Promissory Note, originally issued in the principal amount of $15,000,000, which was cancelled pursuant to an Assignment and Cancellation Agreement dated Sep 29, 2026.

Key details

• Amendment No. 6: entered Oct 9, 2026; the Required Lenders waived specified events of default arising from the ACIF-SCIM termination and the cancellation of the SCIM Promissory Note, and the Agent agreed the cancelled note no longer constituted collateral.
• Revenue share: BC Partners Advisors L.P. ("BCPA") agreed to pay an ongoing revenue share equal to 29.88% of management and incentive fees it receives under its advisory agreement with BCPLC, less certain allocable sales force compensation; SCIM assigned its rights under that Revenue Share Agreement to MLC Sub.
• Ownership and prior obligations: the Company holds a 24.99% ownership interest in SCIM; SCIM paid all accrued and unpaid interest on the SCIM Promissory Note before assignment and cancellation.
• The Company, Mount Logan Management, LLC and certain other subsidiaries reaffirmed their guarantees and obligations under the Credit Agreement and related loan documents.

Why it may matter

• Item 1.01 (entry into a material definitive agreement) covers the Amendment No. 6 to the Credit Agreement, the waiver of specified defaults and the partial collateral release; Item 1.02 (termination of a material definitive agreement) covers the Assignment and Cancellation Agreement cancelling the $15,000,000 SCIM Promissory Note and the assignment of revenue share rights to MLC Sub.
• The filing does not show why the insider traded or why the company acted.