The amendment also strips out a 0.10 percent adjustment that had been layered onto Term SOFR for dollar borrowings, and leaves room to grow the line to nearly $5 billion.

August 6, 2026

HPS Corporate Lending Fund has expanded its senior secured revolving credit facility to $3.325 billion and pushed the final maturity into 2031, deepening the bank financing behind one of the largest non-traded business development companies in the market.

What the Amendment Changes

The change came through a fourth amendment, dated August 4, 2026, to the revolving credit agreement the fund first entered in June 2022 with JPMorgan Chase Bank as administrative and collateral agent. Its principal provisions:

• Commitments — aggregate lender commitments rise from $2.65 billion to $3.325 billion.
• Commitment termination date — the point after which the fund can no longer draw on the line moves from April 29, 2029 to August 4, 2030.
• Maturity — extended from April 29, 2030 to August 4, 2031.
• Accordion ceiling — the provision allowing the fund to solicit additional commitments under specified conditions now permits a total facility of $4.9875 billion.
• Pricing — the 0.10 percent credit spread adjustment previously layered onto the Term SOFR rate for dollar-denominated loans is removed, lowering the all-in cost of those borrowings, all else equal.

A Fourth Trip Back to the Same Lenders

The facility has now been amended four times since inception, following amendments in October 2023, June 2024 and April 2025. The most recent of those set the drawdown and maturity dates this amendment resets, meaning the fund has returned to the same lender group for both more capacity and a longer runway.

Why It Matters

For a perpetual-life BDC that raises capital monthly and originates continuously, revolver capacity is the working joint between subscription flows and deal funding, and tenor is what keeps that capacity from becoming a refinancing question mid-cycle. Extending the drawdown window past 2030 removes that overhang for several years. That a bank syndicate agreed to enlarge the commitment, stretch the term and drop a pricing add-on in a single step also points to lender comfort with the underlying portfolio.

The Fund Behind the Facility

The fund is the flagship non-traded vehicle of HPS Investment Partners, which became part of BlackRock in mid-2025 and sits within its private financing platform. As of April 30, 2026, the fund reported net assets of roughly $12.59 billion against an investment portfolio carried at about $24.85 billion, with outstanding principal debt near $12.8 billion and average debt-to-equity around 0.99 times.