8-KFiled Jul 23, 8:00 PM ET
Hancock Park Corporate Income Amends Note, Announces Plan of Sale
Hancock Park Corporate Income, Inc.Research Summary
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Hancock Park Corporate Income Amends Note, Announces Plan of Sale
What Happened
- Hancock Park Corporate Income, Inc. filed an 8-K (dated July 24, 2026) announcing Amendment No. 2 to its Note Purchase Agreement with a qualified institutional investor, entered July 22, 2026, and the termination of its Dealer Manager Agreement on July 23, 2026. The Amendment modifies provisions of the Note Purchase Agreement in connection with the Company’s Plan of Sale and Dissolution and permits the Company to prepare financial statements on a liquidation basis following deregistration of its common stock.
Key Details
- Original Note: unsecured note issued Nov. 27, 2019 with $15,000,000 principal and a 6.50% coupon (maturity Nov. 27, 2024).
- Prior amendment (Sept. 23, 2021): extended maturity to Nov. 27, 2026, reduced coupon to 5.50% and reduced default rate to 7.50%.
- Amendment No. 2 (July 22, 2026): modifies contractual provisions tied to the Plan of Sale and Dissolution, including financial reporting, change-of-control and corporate-existence provisions, investment policy and asset-coverage items, and events of default; allows liquidation-basis accounting after deregistration.
- Dealer Manager Agreement terminated July 23, 2026 in connection with the Plan of Sale and Dissolution. Exhibits filed: Plan of Sale and Dissolution (Exhibit 2.1) and Amendment No. 2 (Exhibit 10.1).
Why It Matters
- These filings show the company is moving toward winding up operations: amending creditor agreements and terminating its dealer manager are steps consistent with a planned sale and dissolution. For investors and creditors, the Amendment changes contractual rights and reporting (including a switch to liquidation accounting after deregistration), which can materially affect recovery priorities, timing of payments, and the company’s financial disclosures.