UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events |
On March 23, 2026, Andalusian Credit Company, LLC (the “Company”) entered into an Amended and Restated Limited Liability Company Agreement (the “LLC Agreement”) of Andalusian Credit Rated JV I LLC (the “Joint Venture”), a newly-formed Delaware limited liability company, together with certain affiliates of Carlyle Global Credit Investment Management, LLC (collectively, “Carlyle”) as members. The Joint Venture is expected to invest primarily in middle market loan assets and other cash-flow producing private credit assets, including through participations and other interests therein.
The Company and Carlyle have committed to invest up to an aggregate of $60,000,000 in equity interests in the Joint Venture, with the Company committing to invest up to $52,500,000 in Class B Interests and Carlyle committing to invest up to an aggregate of $7,500,000 in Class A Interests. The Company made its initial capital contribution in kind through the contribution of an initial portfolio of loans. Distributable proceeds shall be made, pursuant to the terms of the LLC Agreement, to holders of the Class A Interests prior to distributions to the holders of the Class B Interests. The Company’s ownership of the Joint Venture is capped at 87.5% of outstanding interests.
The business and affairs of the Joint Venture are managed by a board of managers (the “Board”), which consists of four managers, with Carlyle and the Company each designating two managers. All portfolio and other material decisions regarding the Joint Venture, including any initial or follow-on investments, sales or dispositions of investments, material modifications to investment terms, tax settlements, and incurrence or prepayment of any indebtedness, require approval by the Board (including at least one designee of each of Carlyle and the Company). Andalusian Credit Partners, LLC was engaged by the Joint Venture to provide certain administrative services to the Joint Venture.
The Joint Venture, in connection with the closing, issued four classes of delayed draw notes rated by Morningstar DBRS to Carlyle pursuant to an indenture and security agreement in the following principal amounts: Class A notes with an initial commitment amount of $115,000,000.00, Class B notes with an initial commitment amount of $8,000,000.00, Class C Notes with an initial commitment amount of $12,000,000.00, and Class D Notes with an initial commitment amount of $5,000,000.00.
SIGNATURE
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.
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Andalusian Credit Company, LLC | |||
| Date: March 26, 2026 | By: | /s/ Moses Awe | |
| Name: | Moses Awe | ||
| Title: | Chief Financial Officer | ||