{"url_path":"/sec/cik-0001859919/8-k/2026-06-05/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-05","source_url":"https://www.sec.gov/Archives/edgar/data/1859919/0001859919-26-000052-index.html","accession_number":"0001859919-26-000052","cik":"0001859919","ticker":null,"issuer_name":"Barings Private Credit Corp","edgar_url":"https://www.sec.gov/Archives/edgar/data/1859919/0001859919-26-000052-index.html","primary_entity_key":"0001859919","primary_entity_name":"Barings Private Credit Corp"},"word_count":615,"has_tables":true,"body_markdown":"Item 1.01.    Entry into a Material Definitive Agreement.\n\nOn June 3, 2026, Barings Private Credit Corporation (“Company”), through its wholly-owned subsidiary, BPC Funding 2 LLC (“BPC Funding”), as borrower, entered into a loan and security agreement (the “Wells Loan Agreement”) with Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, co-lead manager and swingline lender, MUFG Bank, Ltd., as co-lead manager, U.S. Bank Trust Company, National Association, as collateral agent, U.S. Bank National Association, as collateral custodian, and the lenders party thereto, which provides BPC Funding with a revolving credit facility (the “Wells Credit Facility”). The Company serves as collateral manager and equityholder under the Wells Credit Facility. The initial maximum amount of borrowings available under the Wells Credit Facility is $500 million, with an accordion provision permitting increases to a maximum facility amount of up to $850 million.\n\nBorrowings under the Wells Credit Facility initially bear interest at a per annum rate equal to, in the case of dollar advances, Daily Simple SOFR, and in the case of foreign currency advances, the applicable benchmark in effect for such currency, plus, in each case, an applicable margin of 2.15%. During the reinvestment period, BPC Funding will pay a non-usage fee of: (x) prior to (i) the twelve (12) month anniversary of the closing date and (ii) the five (5) month anniversary of any permitted securitization, 0.50% per annum on the full unused facility amount, and (y) thereafter (i) 0.50% per annum for the unused facility amount up to 35% of the maximum facility amount and (ii) 1.50% per annum for any remaining unused facility amount.\n\nBorrowings under the Wells Credit Facility are subject to compliance with borrowing base requirements, pursuant to which the amount of funds advanced by the lenders to BPC Funding varies depending upon the types of assets in BPC Funding’s portfolio. Assets must meet certain eligibility criteria in order to be included in the borrowing base, and the borrowing base is subject to certain portfolio restrictions including investment size, sector concentrations and investment type.\n\nThe period during which BPC Funding may borrow under the Wells Credit Facility expires on June 1, 2029, and the Wells Credit Facility will mature and all amounts outstanding thereunder must be repaid by June 3, 2031.\n\nBPC Funding’s obligations to the lenders under the Wells Credit Facility are secured by a first priority security interest in all of BPC Funding’s portfolio investments and cash. The obligations of BPC Funding under the Wells Credit Facility are non-recourse to the Company, and the Company’s exposure under the Wells Credit Facility is limited to the value of the Company’s investment in BPC Funding.\n\nIn connection with the Wells Credit Facility, BPC Funding has made certain customary representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar facilities. The Wells Credit Facility contains customary events of default for similar financing transactions, including if a change of control of BPC Funding occurs. Upon the occurrence and during the continuation of an event of default, Wells Fargo may declare the outstanding advances and all other obligations under the Wells Credit Facility immediately due and payable. The occurrence of an event of default (as described above) triggers a requirement that BPC Funding obtain the consent of Wells Fargo prior to entering into any sale or disposition with respect to BPC Funding’s portfolio investments.\n\nThe foregoing description is only a summary of the material provisions of the Wells Loan Agreement and is qualified in its entirety by reference to a copy of the Wells Loan Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein."}