Mount Logan Capital amends credit agreement, waives defaults tied to fund mergers
Mount Logan Capital's indirect subsidiary MLC US Holdings signed Amendment No. 6 to its credit agreement, which waives certain specified defaults linked to the September 29, 2026 merger of Alternative Credit Income Fund into BC Partners Lending Corporation and the cancellation of a $15.0 million promissory note. The filing also discloses a revenue share agreement that gives the subsidiary a share of adviser fees, but it does not report any financial results or a dollar amount for that share.
Key points
- Amendment No. 6 dated October 9, 2026 includes a limited waiver of specified events of default under the Credit Agreement.
- The SCIM Promissory Note, originally $15.0 million, was cancelled on September 29, 2026 in exchange for rights to a 29.88% revenue share of BCPA's management and incentive fees, less certain sales force compensation.
- Net amount owed to Sierra Crest Investment Management under the terminated Services Agreement was initially calculated at approximately $3.4 million, to be repaid quarterly by offset against revenue share payments.
- No early termination penalties were incurred in connection with the note cancellation or the Services Agreement termination.
The filing
Written by AI on Nov 9, 2026, 11:46 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 15, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.