Carlyle Secured Lending Enters Material Agreement

TL;DR

CSL signed a big deal on July 2nd, filing shows.

AI Summary

Carlyle Secured Lending, Inc. entered into a material definitive agreement on July 2, 2024. The filing also includes financial statements and exhibits related to this agreement. The company was formerly known as TCG BDC, Inc. and Carlyle GMS Finance, Inc.

Why It Matters

This filing indicates a significant new agreement for Carlyle Secured Lending, which could impact its financial operations and future investments.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new financial obligations or opportunities, carrying inherent risks.

Key Players & Entities

• Carlyle Secured Lending, Inc. (company) — Registrant
• July 2, 2024 (date) — Date of earliest event reported
• TCG BDC, Inc. (company) — Former company name
• Carlyle GMS Finance, Inc. (company) — Former company name
• One Vanderbilt Avenue, Suite 3400 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $410,000,000 — ending Inc. (the "Company") completed a $410,000,000 term debt securitization refinancing (t
• $240,000,000 — d State Street Bank and Trust Company: $240,000,000 of AAA Class A-1-1-A Notes, which bear
• $50,000,000 — hich bear interest at SOFR plus 1.80%, $50,000,000 of AAA Class A-L Loans, which bear inte
• $20,000,000 — hich bear interest at SOFR plus 1.80%, $20,000,000 of AAA Class A-1-2-B Notes, which bear
• $30,000,000 — hich bear interest at SOFR plus 2.00%, $30,000,000 of AA Class A-2-RR Notes, which bear in
• $40,000,000 — hich bear interest at SOFR plus 2.15%, $40,000,000 of A Class B-R Notes, which bear intere
• $104,525,000 — e Previous Closing Date, the Issuer had $104,525,000 of subordinated securities issued in th
• $1,000 — he form of 104,525 preferred interests ($1,000 per preferred interests) (the "Preferre
• $13,529,000 — ts with an aggregate notional amount of $13,529,000 to the Company. The CLO Debt is the se

Filing Documents

• csl-20240702.htm (8-K) — 42KB
• a101-thirdsupplementalinde.htm (EX-10.1) — 2229KB
• a102-amendmenttocollateral.htm (EX-10.2) — 289KB
• 0001544206-24-000048.txt ( ) — 3108KB
• csl-20240702.xsd (EX-101.SCH) — 3KB
• csl-20240702_def.xml (EX-101.DEF) — 15KB
• csl-20240702_lab.xml (EX-101.LAB) — 27KB
• csl-20240702_pre.xml (EX-101.PRE) — 16KB
• csl-20240702_htm.xml (XML) — 4KB

01 – Entry into a Material Definitive Agreement

Item 1.01 – Entry into a Material Definitive Agreement. On July 2, 2024 (the "Refinancing Date"), Carlyle Secured Lending Inc. (the "Company") completed a $410,000,000 term debt securitization refinancing (the "2015-1R Refinancing"), also known as a collateralized loan obligation refinancing, which is a form of secured financing incurred by the Company. The secured debt issued in the 2015-1R Refinancing were issued by the Company's consolidated subsidiary Carlyle Direct Lending CLO 2015-1R LLC, a limited liability company organized under the laws of the State of Delaware (the "Issuer") and are backed by a portfolio of collateral obligations consisting of middle market loans as well as by other assets of the Issuer. The 2015-1R Refinancing was executed by the issuance of the following classes of notes and loans pursuant to an indenture and security agreement dated as of June 26, 2015 (the "Original Closing Date") by and among the Issuer and State Street Bank and Trust Company, as supplemented by the first supplemental indenture dated as of August 30, 2018 (the "Previous Closing Date") and as further amended by the second supplemental indenture dated as of the Refinancing Date (the "Indenture"), by and between the Issuer and State Street Bank and Trust Company: $240,000,000 of AAA Class A-1-1-A Notes, which bear interest at SOFR plus 1.80%, $50,000,000 of AAA Class A-L Loans, which bear interest at SOFR plus 1.80%, $20,000,000 of AAA Class A-1-2-B Notes, which bear interest at SOFR plus 2.00%, $30,000,000 of AA Class A-2-RR Notes, which bear interest at SOFR plus 2.15%, $40,000,000 of A Class B-R Notes, which bear interest at SOFR plus 2.75%, and $30,000,000 of BBB- Class C-R Notes, which bear interest at SOFR plus 3.75% (together, the "CLO Debt"). The CLO Debt is secured by middle market loans and other assets of the Issuer. The CLO Debt is scheduled to mature in July 2036. The proceeds from the 2015-1R Refinancing were used to redeem in full the outstanding

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits Exhibit Number Description 10.1 Third Supplemental Indenture, dated as of July 2, 2024 to the Indenture dated as of June 26, 2015 between Carlyle Direct Lending CLO 2015-1R LLC and State Street Bank and Trust Company as trustee. 10.2 Second Amendment to Collateral Management Agreement, dated as of July 2, 2024, to the Collateral Management Agreement entered into by Carlyle Direct Lending CLO 2015-1R LLC and Carlyle Global Credit Investment Management L.L.C. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARLYLE SECURED LENDING, INC. (Registrant) Dated: July 9, 2024 By: /s/ Joshua Lefkowitz Name: Joshua Lefkowitz Title: Secretary

View Full Filing

View this 8-K filing on SEC EDGAR