v3.26.1
Debt
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Debt

Note 5. Debt

 

SPV Facility— On December 12, 2023, the Company, through its wholly-owned subsidiary, SLR Private Credit BDC II SPV
LLC, entered into the $25,000 SPV Facility with Citibank, N.A. acting as administrative agent. Effective with an amendment on June
25, 2025, the stated interest rate on the SPV Facility is Term SOFR plus 2.25% with no SOFR floor requirement, and the final
maturity date is December 12, 2028. The fee on undrawn commitments is currently 0.375%. The SPV Facility is secured by all of the
assets held by the SPV. Under the terms of the SPV Facility, the Company and SPV, as applicable, have made certain customary
representations and warranties, and are required to comply with various covenants, including leverage restrictions, reporting
requirements and other customary requirements for similar credit facilities. The SPV Facility also includes usual and customary events of default for credit facilities of this nature. As of March 31, 2026, there were $19,000 of borrowings outstanding under the SPV
Facility.

 

Subscription Facility— On March 20, 2023, the Company established a $25,000 Subscription Facility originally due March 20, 2025 with ING Capital LLC, as administrative agent and lender. Effective with a March 19, 2026 amendment, the maximum commitment is $12,000, the stated interest rate on the Subscription Facility is SOFR plus 1.90% and the maturity date is March 18, 2027. Under the terms of the Subscription Facility, the Company has made certain customary representations and warranties, and is required to comply with various covenants, including reporting requirements and other customary requirements for similar credit facilities. The Subscription Facility also includes usual and customary events of default for credit facilities of this nature. As of March 31, 2026, there were $9,900 of borrowings outstanding under the Subscription Facility.

The average annualized interest cost for borrowings for the three months ended March 31, 2026 and the year ended December 31, 2025 was 6.15% and 6.88%, respectively. These costs are exclusive of other credit facility expenses such as unused fees. The

maximum amount borrowed on the credit facilities during the three months ended March 31, 2026 and the year ended December 31, 2025 was $29,950 and $30,450, respectively.