Subsequent Events |
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| Subsequent Events | Subsequent Events The Company’s management evaluated subsequent events through the date of issuance of the condensed consolidated financial statements. There have been no subsequent events that occurred during such period that would require disclosure in, or would be required to be recognized in the condensed consolidated financial statements as of June 30, 2026, except as discussed below. July Subscriptions and Distribution Declaration The Company received approximately $280.4 million of net proceeds, inclusive of distributions reinvested through the DRIP, relating to the issuance of Class I shares, Class S shares, and Class D shares for subscriptions effective July 1, 2026. On June 22, 2026, the Board declared net distributions of $0.1800 per Class I share, $0.1632 per Class S share, and $0.1751 per Class D share, which is payable on or about August 27, 2026 to shareholders of record as of July 31, 2026. August Subscriptions Through the date of issuance of the condensed consolidated financial statements, the Company received approximately $227.1 million of subscriptions, inclusive of distributions reinvested through the DRIP, relating to the issuance of Class I, Class S and Class D shares effective August 1, 2026. 2026-1 Lender Finance Facility On July 23, 2026, the Company funded a $730.0 million secured term loan credit facility (the “2026-1 Lender Finance Facility”). 2026-1 Lender Finance is the borrower under the 2026-1 Lender Finance Facility and is consolidated by the Company for financial reporting purposes and subject to its overall asset coverage requirement. The loans incurred under the 2026-1 Lender Finance Facility (collectively, the “2026-1 Loans”) are primarily secured by a diversified portfolio of private credit loans and participation interests therein. The following table presents information on the loans incurred in the 2026-1 Lender Finance Facility:
(1)The Company (through its wholly-owned and consolidated subsidiary, 2026-1 Lender Finance Depositor) retained all of the Class C Term Loans incurred in the 2026-1 Lender Finance Facility which are eliminated in consolidation. The Company (through its wholly-owned and consolidated subsidiary, 2026-1 Lender Finance Depositor) retained all of the Class C Term Loans incurred in the 2026-1 Lender Finance Facility in part in exchange for the Company’s sale and contribution to 2026-1 Lender Finance of the initial closing date portfolio. The 2026-1 Loans are scheduled to mature on July 20, 2038; however, the 2026-1 Loans may be prepaid by 2026-1 Lender Finance, at the direction of the Company, on any business day after July 8, 2028. In connection with the sale and contribution, the Company has made customary representations, warranties and covenants to 2026-1 Lender Finance. The Class A Term Loans, Class B Term Loans and Class C Term Loans are secured obligations of 2026-1 Lender Finance, and the loan and security governing the 2026-1 Loans includes customary covenants and events of default. The Company serves as collateral manager to 2026-1 Lender Finance under a collateral management agreement and has agreed to irrevocably waive all collateral management fees payable pursuant to the collateral management agreement. Windom Peak Funding Facility Amendment On July 31, 2026, the Windom Peak Funding Facility was amended pursuant to the Seventh Amendment to the Loan and Security Agreement (the “Windom Peak Seventh Amendment”). The Windom Peak Seventh Amendment provides for, among other things, (i) an increase in the commitments of the facility by $150.0 million and (ii) the payment of certain fees as agreed between Windom Peak Funding, Wells Fargo and the lenders party thereto. Revolving Credit Facility Amendment On August 10, 2026, the Revolving Credit Facility was amended pursuant to Amendment No. 5 (the “Revolver Fifth Amendment”), among the Company, as borrower, each of the lenders from time to time party thereto and Citibank, N.A., as administrative agent. The Revolver Fifth Amendment provides for, among other things, (a) an extension of the period during which the Company may make borrowings on the Revolving Credit Facility of certain revolving commitments from August 8, 2029 to August 10, 2030 (other than with respect to (i) the revolving commitments of certain lenders in the aggregate amount of $90.0 million, which expire on June 9, 2027 and (ii) the revolving commitments of certain lenders in the aggregate amount of $90.0 million, which expire on August 12, 2028), (b) an extension of the maturity date with respect to certain revolving commitments from August 8, 2030 to August 10, 2031 (other than with respect to (i) the revolving commitments and term loans of certain lenders in the aggregate amount of $100.0 million, which mature on June 9, 2028 and (ii) the revolving commitments and term loans of certain lenders in the aggregate amount of $100.0 million, which mature on August 12, 2029), (c) an increase in the aggregate committed principal from $6.0 billion to $6.3 billion, which is comprised of (i) revolving commitments in an aggregate amount of $5.8 billion and (ii) funded term loans in an aggregate principal amount of $455.0 million, (d) a resetting of the minimum shareholders’ equity, and (e) the payment of certain fees as agreed between the Company, Citi and the lenders party thereto. MML 2022-2 Debt Securitization On July 22, 2026, the Company, as the sole holder of the Subordinated Notes, directed the redemption of all of the secured debt issued or incurred, in whole, pursuant to the terms of the indenture governing the MML 2022-2 Debt Securitization, on or about August 13, 2026. 2023-1 Debt Securitization On July 22, 2026, the Company, as the sole holder of the Subordinated Notes, directed the redemption of all of the secured debt issued or incurred, in whole, pursuant to the terms of the indenture governing the 2023-1 Debt Securitization, on or about August 13, 2026.
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