Stone Point amends, extends and shrinks revolver to $85 million

By William Gullotti

Buffalo, N.Y., Dec. 22 – Stone Point Credit Corp. amended its revolving credit agreement with Capital One, NA as administrative agent on Dec. 22, according to an 8-K filing with the Securities and Exchange Commission.

The amendment to the Dec. 29, 2020-signed revolver was executed via letter agreement, shrinking the facility to $85 million from $125 million and extending the maturity to Dec. 27, 2024 from Dec. 28, 2023.

The applicable margin also increased to 235 basis points from 195 bps for borrowings with SOFR-based interest.

According to the filing, all other material terms remained unchanged.

In addition to serving as administrative agent, Capital One is also the lead arranger.

Stone Point is a financial services firm based in Greenwich, Conn.

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