Franklin BSP Capital (NYSE: FRBP) extends $400M credit facility to 2031

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Franklin BSP Capital Corporation amended its primary credit facility through its wholly owned subsidiary FBLC Funding I, LLC. The amendment increases the Facility Amount from $300,000,000 to $400,000,000, reduces the borrowing spread from 2.15% to 1.95% per annum, and extends the Facility Maturity Date from August 25, 2028 to April 10, 2031. It also pushes the Reinvestment Period End Date from August 25, 2026 to April 10, 2029, providing a longer window to originate or reinvest assets under the facility.

Positive

Credit facility upsized and improved terms: Facility Amount increased from $300,000,000 to $400,000,000, borrowing spread reduced from 2.15% to 1.95% per annum, and maturity extended from August 25, 2028 to April 10, 2031, enhancing funding capacity and duration.

Negative

None.

Insights

FRBP secures larger, cheaper, longer-term funding capacity.

Franklin BSP Capital has expanded its loan and servicing agreement, raising the Facility Amount from $300,000,000 to $400,000,000. This gives the company more room to finance loans and investments through its special purpose subsidiary while using the same secured structure.

The borrowing spread drops from 2.15% to 1.95% per annum, directly lowering interest costs on drawn balances. At the same time, the Facility Maturity Date moves from August 25, 2028 to April 10, 2031, and the Reinvestment Period End Date shifts from August 25, 2026 to April 10, 2029, lengthening both funding stability and portfolio management flexibility.

This combination of higher capacity, lower spread and extended term is generally favorable for a lender’s funding profile, subject to how aggressively the additional $100,000,000 capacity is utilized and broader credit conditions over the life of the facility.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Facility Amount (new): $400,000,000 Facility Amount (prior): $300,000,000 Borrowing spread (new): 1.95% per annum +5 more

8 metrics

Facility Amount (new) $400,000,000 Amended Credit Facility after Amendment No. 5

Facility Amount (prior) $300,000,000 Credit facility size before Amendment No. 5

Borrowing spread (new) 1.95% per annum Spread on borrowings under Amended Credit Facility

Borrowing spread (prior) 2.15% per annum Spread on borrowings before Amendment No. 5

Facility Maturity Date (new) April 10, 2031 Maturity of Amended Credit Facility after amendment

Facility Maturity Date (prior) August 25, 2028 Maturity date before Amendment No. 5

Reinvestment Period End Date (new) April 10, 2029 End of reinvestment period under Amended Credit Facility

Reinvestment Period End Date (prior) August 25, 2026 Reinvestment end date before Amendment No. 5

Key Terms

Material Definitive Agreement, Facility Amount, Facility Maturity Date, Reinvestment Period End Date, +2 more

6 terms

Material Definitive Agreement regulatory

"Item 1.01. Entry into a Material Definitive Agreement."

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

Facility Amount financial

"increases the Facility Amount under the Amended Credit Facility from $300,000,000 to $400,000,000"

Facility Maturity Date financial

"extends the Facility Maturity Date under the Amended Credit Facility from August 25, 2028 to April 10, 2031"

Reinvestment Period End Date financial

"extends the Reinvestment Period End Date under the Amended Credit Facility from August 25, 2026 to April 10, 2029"

special purpose financing subsidiary financial

"FBLC Funding I, LLC (the “Subsidiary”), a wholly-owned, special purpose financing subsidiary"

collateral custodian financial

"U.S. Bank National Association as collateral custodian"

Understanding 8-K Material Events →

04/16/2026 - 03:05 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 10, 2026

Franklin BSP Capital Corporation

(Exact name of registrant as specified in charter)

Delaware		814-01360		85-2950084
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

One Madison Avenue, Suite 1600
New York, NY		10010
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (212) 588-6770

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

	Trading	Name of each exchange
Title of each class	Symbol(s)	on which registered
None	N/A	N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 1.01. Entry into a Material Definitive Agreement.

On April 10, 2026, FBLC Funding I, LLC (the “Subsidiary”), a wholly-owned, special purpose financing subsidiary of Franklin BSP Capital Corporation (the “Corporation”) entered into Amendment No. 5 (together with any documents executed in connection therewith, “Amendment No. 5”) to that certain loan and servicing agreement (as amended and together with any other documents executed in connection therewith, the “Amended Credit Facility”; capitalized terms used and not otherwise defined herein shall have the meanings given to such terms in the Amended Credit Facility), initially entered into as of August 28, 2020, by and among the Corporation, the Subsidiary, Wells Fargo Bank, National Association, as administrative agent and lender, U.S. Bank National Association as collateral custodian and U.S. Bank Trust Company, National Association, as collateral agent. Amendment No. 5, among other things, (i) increases the Facility Amount under the Amended Credit Facility from $300,000,000 to $400,000,000, (ii) reduces the spread on borrowings under the Amended Credit Facility from 2.15% to 1.95% per annum, (iii) extends the Facility Maturity Date under the Amended Credit Facility from August 25, 2028 to April 10, 2031 and (iv) extends the Reinvestment Period End Date under the Amended Credit Facility from August 25, 2026 to April 10, 2029. The Subsidiary incurred other customary costs and expenses in connection with Amendment No. 5.

The foregoing description is only a summary of the material provisions of Amendment No. 5 and is qualified in all respects by the provisions of Amendment No. 5, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

Exhibit Number		Description
10.1		Fifth Amendment to Loan and Servicing Agreement, dated as of April 10, 2026, by and among FBLC Funding I, LLC, as the borrower, Franklin BSP Capital Corporation, as the collateral manager, Wells Fargo Bank, National Association, as administrative agent, U.S. Bank National Association, as collateral custodian, U.S. Bank Trust Company, National Association as collateral agent and each of the lenders from time to time party thereto.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

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.

	FRANKLIN BSP CAPITAL CORPORATION

Date: April 16, 2026	By:	/s/ Nina K. Baryski
	Name:	Nina K. Baryski
	Title:	Chief Financial Officer and Treasurer

Source: View Original Filing on SEC EDGAR

FAQ

What did Franklin BSP Capital Corporation (FRBP) change in its credit facility?

Franklin BSP Capital Corporation amended its main credit facility to increase the Facility Amount to $400,000,000, cut the borrowing spread to 1.95% per annum, and extend both the facility maturity and reinvestment period, strengthening its long-term financing structure.

How much did FRBP increase its credit facility capacity under the amendment?

The Facility Amount under the amended credit facility rose from $300,000,000 to $400,000,000. This $100,000,000 increase gives Franklin BSP Capital Corporation more room to fund loans and investments through its special purpose financing subsidiary, FBLC Funding I, LLC.

How did the borrowing cost change for FRBP’s amended credit facility?

The spread on borrowings under the amended credit facility decreased from 2.15% to 1.95% per annum. This lower spread should reduce interest expense on drawn amounts, improving the economics of assets financed through the facility if portfolio yields remain stable.

When does Franklin BSP Capital’s amended credit facility now mature?

The Facility Maturity Date was extended from August 25, 2028 to April 10, 2031. This longer term provides greater visibility and stability for Franklin BSP Capital Corporation’s secured funding, reducing near-term refinancing risk tied to this particular lending arrangement.

What is the new Reinvestment Period End Date for FRBP’s credit facility?

The Reinvestment Period End Date under the amended credit facility moved from August 25, 2026 to April 10, 2029. During this extended period, the company can continue to reinvest principal proceeds into new eligible assets within the facility structure before amortization accelerates.

Who are the key counterparties in Franklin BSP Capital’s amended facility?

Key parties include FBLC Funding I, LLC as borrower, Franklin BSP Capital Corporation as collateral manager, Wells Fargo Bank, National Association as administrative agent, U.S. Bank National Association as collateral custodian, and U.S. Bank Trust Company, National Association as collateral agent and lender representative.

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

EX-10.1 FIFTH AMENDMENT TO LOAN AND SERVICING AGREEMENT, DATED AS OF APRIL 10, 2026, BY 988.6 KB