Franklin BSP Capital Corp Enters Material Definitive Agreement
Ticker: FRBP · Form: 8-K · Filed: Jan 22, 2025 · CIK: 1825248
| Field | Detail |
|---|---|
| Company | Franklin Bsp Capital Corp (FRBP) |
| Form Type | 8-K |
| Filed Date | Jan 22, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $780.0 million, $1.17 b |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
Franklin BSP Capital Corp just signed a big deal, creating new financial obligations.
AI Summary
On January 16, 2025, Franklin BSP Capital Corporation entered into a material definitive agreement. This agreement also created a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The filing includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates a significant new financial commitment or arrangement for Franklin BSP Capital Corp, which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating new financial obligations can introduce financial risks and uncertainties for a company.
Key Players & Entities
- Franklin BSP Capital Corporation (company) — Registrant
- January 16, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- New York (location) — Business Address City
FAQ
What is the nature of the material definitive agreement entered into by Franklin BSP Capital Corporation?
The filing states that Franklin BSP Capital Corporation entered into a material definitive agreement on January 16, 2025, but does not specify the details of the agreement itself.
What type of financial obligation was created by this agreement?
The agreement created a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 16, 2025.
What is the state of incorporation for Franklin BSP Capital Corporation?
Franklin BSP Capital Corporation is incorporated in Delaware.
What are the business address details for Franklin BSP Capital Corporation?
The business address for Franklin BSP Capital Corporation is One Madison Avenue, Suite 1600, New York, New York.
Filing Stats: 735 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2025-01-22 16:49:09
Key Financial Figures
- $780.0 million — e amount of the lenders' commitments to $780.0 million and includes an accordion provision to
- $1.17 b — aggregate amount to an amount of up to $1.17 billion, extends the period for borrowing
Filing Documents
- ea0228139-8k_frank.htm (8-K) — 30KB
- ea022813901ex10-1_frank.htm (EX-10.1) — 837KB
- 0001213900-25-005542.txt ( ) — 1248KB
- bdvc-20250116.xsd (EX-101.SCH) — 3KB
- bdvc-20250116_def.xml (EX-101.DEF) — 26KB
- bdvc-20250116_lab.xml (EX-101.LAB) — 35KB
- bdvc-20250116_pre.xml (EX-101.PRE) — 24KB
- ea0228139-8k_frank_htm.xml (XML) — 5KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On January 16, 2025, Franklin BSP Capital Corporation (the "Company") amended and restated its revolving credit facility, dated as of December 8, 2023 (the "Existing Credit Facility"), with the lenders parties thereto, JPMorgan Chase Bank, N.A. ("JPMorgan"), as administrative agent and as collateral agent, Sumitomo Mitsui Banking Corporation ("Sumitomo") and Wells Fargo Bank, National Association, as syndication agents, and JPMorgan, Sumitomo and Wells Fargo Securities, LLC as joint bookrunners and joint lead arrangers (such second amended and restated agreement, the "Second A&R Credit Facility"). The Second A&R Credit Facility, among other things, increases the aggregate amount of the lenders' commitments to $780.0 million and includes an accordion provision to permit increases to the aggregate amount to an amount of up to $1.17 billion, extends the period for borrowings under the Second A&R Credit Facility through January 16, 2029 and extends the maturity date for any amounts borrowed under the Second A&R Credit Facility to January 16, 2030. The other material terms of the Existing Credit Facility were unchanged. The Company agreed to pay administrative agent fees and incurred other customary costs and expenses in connection with the Second A&R Credit Facility. The foregoing description of the Second A&R Credit Facility in this Item 1.01 is a summary only and is qualified in all respects by the provisions of the Second A&R Credit Facility, a copy of which is filed herewith.
03. Creation of a Direct Financial 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 Second Amended and Restated Senior Secured Credit Agreement, dated as of January 16, 2025, among Franklin BSP Capital Corporation, JPMorgan Chase Bank, N.A., as Administrative Agent, Wells Fargo Bank, National Association, Sumitomo Mitsui Banking Corporation, and MUFG Bank, Ltd. as syndication agents, and JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, Sumitomo Mitsui Banking Corporation, and MUFG Bank, Ltd. as Joint Bookrunner and Joint Lead Arrangers. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1
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 22, 2025 By: /s/ Nina K. Baryski Name: Nina K. Baryski Title: Chief Financial Officer and Treasurer 2