The restated agreement also lifts the ceiling on the line to $1.380 billion, opening room to add lenders without reopening negotiations.

August 3, 2026

MSD Investment Corp. has expanded and extended its senior secured bank line, raising lender commitments to $920.0 million and moving the facility’s maturity out to July 30, 2031.

The amended and restated agreement, entered on July 30, 2026, revises the credit agreement the company first put in place in December 2024 with JPMorgan Chase Bank as administrative agent. Other material terms carry over unchanged.

What Changed

• Aggregate lender commitments increase from $670.0 million to $920.0 million.
• The maximum size the facility can reach rises from $675.0 million to $1.380 billion.
• The maturity date moves from November 19, 2029 to July 30, 2031.

Room to Grow the Line

The most consequential change may be the gap the amendment opens between committed capital and the facility’s ceiling. Under the earlier terms, commitments sat within a few million dollars of the maximum, leaving effectively no room to grow the line without renegotiating it. The restated agreement leaves considerable unused headroom above the committed amount, giving the company latitude to bring additional lenders into the facility as its portfolio scales.

Following June’s Bond Sale

The move follows closely on MSD’s step into the unsecured bond market. In June the company priced $300 million of notes due 2029 and indicated that part of the proceeds would go toward paying down revolver borrowings. Taken together, the two transactions leave the company with a longer-dated secured line, a larger committed pool of bank capital, and fixed-rate term debt sitting alongside it.

Secured bank capacity is a direct input to how quickly a lender-funded vehicle can put capital to work. A larger and later-maturing line supports new investment activity without requiring equity to be raised in step, and the extension pushes a refinancing decision that would have arrived in 2029 out by roughly two years.

The company reported the change under both the material-definitive-agreement and direct-financial-obligation provisions, and attached the full agreement as an exhibit. MSD Investment Corp. is incorporated in Maryland and reports as an emerging growth company.