Franklin BSP Capital Corp. Files 8-K with Material Agreements

TL;DR

Franklin BSP Capital Corp. signed and terminated deals on Dec 27th, creating new financial obligations.

AI Summary

On December 27, 2024, Franklin BSP Capital Corp. entered into a material definitive agreement and also terminated a material definitive agreement. The company also incurred a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details regarding these agreements and obligations were not provided in this filing.

Why It Matters

This filing indicates significant changes in Franklin BSP Capital Corp.'s contractual and financial obligations, which could impact its future operations and financial health.

Risk Assessment

Risk Level: medium — The filing mentions the entry into and termination of material definitive agreements, as well as the creation of financial obligations, suggesting potential shifts in the company's business and financial standing.

Key Players & Entities

• Franklin BSP Capital Corp. (company) — Registrant
• December 27, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• One Madison Avenue, Suite 1600 (address) — Business Address
• New York (city) — Business Address City

FAQ

Key Financial Figures

• $800.0 million — om total Financing Commitments of up to $800.0 million to total Financing Commitments of up to
• $1,050.0 m — to total Financing Commitments of up to $1,050.0 million, (iii) increases the Facility Com
• $400.0 million — increases the Facility Commitments from $400.0 million to $800.0 million, (iv) extends the Sch
• $800.0 m — lity Commitments from $400.0 million to $800.0 million, (iv) extends the Scheduled Termi

Filing Documents

• ea0226348-8k_frank.htm (8-K) — 31KB
• ea022634801ex10-1_franklin.htm (EX-10.1) — 835KB
• ex10-1_001.jpg (GRAPHIC) — 3KB
• 0001213900-25-000574.txt ( ) — 1201KB
• bdvc-20241227.xsd (EX-101.SCH) — 3KB
• bdvc-20241227_lab.xml (EX-101.LAB) — 33KB
• bdvc-20241227_pre.xml (EX-101.PRE) — 22KB
• ea0226348-8k_frank_htm.xml (XML) — 3KB

01. Entry into

Item 1.01. Entry into a Material Definitive Agreement. On December 27, 2024, FBCC Jupiter Funding, LLC ("FBCC Jupiter"), a wholly-owned subsidiary of Franklin BSP Capital Corporation (the "Company"), entered into the First Amendment to Loan and Security Agreement (the "First Amendment"), which amends the Loan and Security Agreement, dated October 4, 2023 (as amended by the First Amendment, the "FBCC Jupiter Facility"), by and among FBCC Jupiter, as borrower, the Company, as portfolio manager, the lenders party thereto, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S. Bank National Association, as securities intermediary, and JPMorgan Chase Bank, National Association, as administrative agent. The First Amendment, among other things, (i) extends the Reinvestment Period from October 2026 to October 2028, (ii) increases the commitment increase option from total Financing Commitments of up to $800.0 million to total Financing Commitments of up to $1,050.0 million, (iii) increases the Facility Commitments from $400.0 million to $800.0 million, (iv) extends the Scheduled Termination Date from October 2027 to October 2029 and (v) reduces the Applicable Margin from 2.55% to 2.25%. The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the First Amendment attached hereto as Exhibit 10.1.

02. Termination of a Material Definitive Agreement

Item 1.02. Termination of a Material Definitive Agreement. On December 27, 2024, concurrent with the closing of the First Amendment, FBLC 57 th Street Funding LLC (formerly known as BDCA 57 th Street Funding, LLC, "57 th Street"), a wholly-owned subsidiary of the Company, merged with and into FBCC Jupiter (the "Merger") pursuant to an Agreement and Plan of Merger, dated as of December 27, 2024 (the "Merger Agreement"), by and between FBCC Jupiter and 57 th Street, with FBCC Jupiter surviving the Merger. Upon consummation of the Merger, the Amended and Restated Loan and Security Agreement, dated as of April 21, 2021, as amended, among 57 th Street, as borrower, the Company, as portfolio manager, the lenders party thereto, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S. Bank National Association, as securities intermediary, and JPMorgan Chase Bank, National Association, as administrative agent, was terminated and all outstanding obligations were assumed into the FBCC Jupiter Facility. 1

03. Creation of a Direct Financial Obligation or an Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 of this current report on Form 8-K is hereby incorporated in this Item 2.03 by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 10.1 First Amendment to Loan and Security Agreement, dated as of December 27, 2024, by and among FBCC Jupiter Funding, LLC, as borrower, Franklin BSP Capital Corporation, as portfolio manager, the lenders party thereto, U.S. Bank Trust Company, National Association, as collateral agent and collateral administrator, U.S. Bank National Association, as securities intermediary, and JPMorgan Chase Bank, National Association, as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2

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. FRANKLIN BSP CAPITAL CORPORATION Date: January 3, 2025 By: /s/ Nina K. Baryski Name: Nina K. Baryski Title: Chief Financial Officer and Treasurer 3

View Full Filing

View this 8-K filing on SEC EDGAR