The second upsizing of the same facility in a month lifts its potential ceiling to $1 billion, signaling an aggressive push to expand borrowing capacity.

July 20, 2026

Bain Capital Private Credit has enlarged its senior secured revolving credit facility with Sumitomo Mitsui Banking Corporation to $750 million, marking the second expansion of that same line in roughly two weeks and underscoring a rapid buildout of the fund’s borrowing capacity.

Terms of the Amendment

The change came through a fourth amendment, dated July 14, 2026, to a revolving credit agreement the fund first entered in December 2023 with SMBC as administrative agent. Its principal provisions are:

• Total commitments raised from $650 million to $750 million
• Accordion ceiling — the maximum size the fund may reach under specified conditions — increased from $800 million to $1 billion

A Second Increase in Two Weeks

The move follows closely on the heels of a prior increase to the same SMBC line, from $650 million to $675 million, that took effect at the end of June alongside a separate expansion of the fund’s JPMorgan-agented facility. The latest amendment supersedes that late-June adjustment, taking the SMBC commitment level substantially higher in a single step and resetting the accordion ceiling well above where it stood only weeks earlier.

The revolving agreement has now been amended four times since inception, with prior amendments dated November 2024, December 2024, and January 2026. The steady cadence of revisions points to a facility the fund has repeatedly returned to as a flexible source of financing.

Why It Matters

For a perpetual-life private credit vehicle that continuously raises and deploys capital, an expanding revolver is a core operational lever — funding new investments and bridging timing gaps between capital inflows and portfolio commitments. The successive increases suggest the fund is positioning for continued portfolio growth and wants ample dry powder available to act on lending opportunities.