TCW Direct Lending unit enters $250 million revolving, term loans

By Marisa Wong

Los Angeles, Sept. 19 – TCW DL VIII Financing LLC, a wholly owned special purpose financing subsidiary of TCW Direct Lending VIII LLC, entered into an up to $250 million senior secured credit facility on Sept. 13 with PNC Bank, NA as facility agent, according to an 8-K filing with the Securities and Exchange Commission.

The maximum commitment is for revolving and term loans, subject to compliance with a borrowing base.

The maximum commitment may be periodically increased in amounts designated by the borrower up to an aggregate principal amount of $800 million.

The borrower may make borrowings of revolving loans during the period from Sept. 13, 2022 to Sept. 13, 2025 and term loans during the period from Sept. 13, 2022 to Sept. 13, 2023.

The credit facility will mature on Sept. 13, 2027.

Loans will bear interest at SOFR plus a margin plus 225 basis points.

U.S. Bank NA is custodian, and Alter Domus (US) LLC is collateral agent and collateral administrator.

TCW is a Los Angeles-based lender that targets middle-market companies.

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