# EDGAR Filing Document

**Accession Number:** 0001849894
**File Stem:** 0000950170-25-113079
**Filing Date:** 2025-9
**Character Count:** 14899
**Document Hash:** 6e4ffd8479b5292e96a455f8a4d735b5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-113079.hdr.sgml**: 20250904

**ACCESSION NUMBER**: 0000950170-25-113079

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 11

**CONFORMED PERIOD OF REPORT**: 20250904

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250904

**DATE AS OF CHANGE**: 20250904

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MSD Investment Corp.
- **CENTRAL INDEX KEY:** 0001849894

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01481
- **FILM NUMBER:** 251294281

**BUSINESS ADDRESS:**
- **STREET 1:** C/O MSD PARTNERS, L.P.
- **STREET 2:** 1 VANDERBILT AVE, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017-5407
- **BUSINESS PHONE:** 212.303.4758

**MAIL ADDRESS:**
- **STREET 1:** C/O MSD PARTNERS, L.P.
- **STREET 2:** 1 VANDERBILT AVE, 26TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017-5407

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MSD Investment, LLC
- **DATE OF NAME CHANGE:** 20211117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MSD Investment Corp., LLC
- **DATE OF NAME CHANGE:** 20210308

?xml version='1.0' encoding='ASCII'? 8-K

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM** 8-K

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **August 28, 2025 (**September 4, 2025**)**

MSD INVESTMENT CORP.

(Exact name of Registrant as Specified in Its Charter)

Maryland 814-01481 87-4195402 <br> (State or Other Jurisdictionof Incorporation) (Commission File Number) (IRS EmployerIdentification No.)

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| | |
|:---|:---|
| 550 Madison Ave., 20th Floor<br>New York**,** NY | 10022 |
| (Address of Principal Executive Offices) | (Zip Code) |

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Registrant's Telephone Number, Including Area Code: 212**-**303-4728

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Securities registered pursuant to Section 12(b) of the Act: None

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**Item 1.01. Entry into a Material Definitive Agreement.**

The information set forth in Item 2.03 is hereby incorporated by reference into this Item 1.01.

**Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

On August 28, 2025, MSD Investment Corp. (the "***Company***"), entered into that certain Commitment Increase Agreement with Royal Bank of Canada, Deutsche Bank AG, New York Branch, and U.S. Bank National Association, as the assuming lenders, JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto (the "***Commitment Increase Agreement***"), pursuant to which, through the accordion feature in the Senior Secured Credit Agreement, by and between the Company, as borrower, and JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto (the "***Credit Agreement***" and the facility thereunder, the "***Revolving Credit Facility***"), the aggregate commitments under the Revolving Credit Facility increased from $450.0 million to $595.0 million. The accordion feature in the Revolving Credit Facility allows the Company, under certain circumstances, to increase the total size of the facility to a maximum of $675.0 million.

The other material terms of the Revolving Credit Facility remain unchanged. Borrowings under the Revolving Credit Facility bear interest at a per annum rate equal to the SOFR in effect, plus an applicable margin of 1.75% per annum if the Borrowing Base (as defined in the Credit Agreement) is greater than or equal to 1.6x the Combined Debt Amount (as defined in the Credit Agreement), or SOFR plus an applicable margin of 1.875% per annum if the Borrowing Base is less than 1.6x the Combined Debt Amount. There is an additional 0.1% credit spread adjustment regardless of the Combined Debt Amount. The Company will also pay a commitment fee of 0.375% per annum on the daily unused amount of the financing commitments until the fourth anniversary of the Revolving Credit Facility. Proceeds from borrowings under the Revolving Credit Facility may be used to fund portfolio investments by the Company. The period during which the Company may make borrowings under the Revolving Credit Facility expires on December 20, 2028, and the Revolving Credit Facility is scheduled to mature on November 19, 2029.

The foregoing description is only a summary of the material provisions of the Commitment Increase Agreement and is qualified in its entirety by reference to a copy of the Commitment Increase Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

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(d) Exhibits

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| | |
|:---|:---|
| **EXHIBIT**<br>**NUMBER** | <br>**DESCRIPTION** |
| 10.1 | [<u>Commitment Increase Agreement by and among MSD Investment Corp., as borrower, Royal Bank of Canada, Deutsche Bank AG, New York Branch, and U.S. Bank National Association, as the assuming lenders, JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto.</u>](ck0001849894-ex10_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  | **MSD Investment Corp.**  | **MSD Investment Corp.**  | **MSD Investment Corp.**  |
| Dated: September 4, 2025 | By: | /s/ Brian Williams | /s/ Brian Williams |
|  |  | **Name:** | Brian Williams  |
|  |  | **Title:** | Chief Financial Officer and Treasurer |

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## Exhibit 10.1

**Execution Version**

COMMITMENT INCREASE AGREEMENT

August 28, 2025

JPMorgan Chase Bank, N.A., as Administrative Agent

4041 Ogletown Stanton Road, Floor 2

Newark, DE 19713

Attention: Loan & Agency Services Group

Tel: (302) 634-3377

Email: thomas.trullinger@chase.com

Ladies and Gentlemen:

We refer to the Senior Secured Revolving Credit Agreement dated as of December 20, 2024 (as amended, modified or supplemented from time to time, the "<u>Credit Agreement</u>"; the terms defined therein being used herein as therein defined) among MSD Investment Corp. (the "<u>Borrower</u>"), the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent for said Lenders. You have advised us that the Borrower has requested in a letter dated August 28, 2025 (the "<u>Increase Request</u>") from the Borrower to the Administrative Agent that the aggregate amount of the Commitments be increased on the terms and subject to the conditions set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Commitment Increase</u>. Pursuant to Section 2.07(e) of the Credit Agreement, each of (i) Royal Bank of Canada, (ii) Deutsche Bank AG New York Branch and (iii) U.S. Bank National Association (each, an "<u>Assuming Lender</u>"), hereby agrees to make the Multicurrency Commitments in the amount set forth opposite the name of such Assuming Lender listed in Schedule I hereto, such Multicurrency Commitments to be effective as of the Increase Date (as defined in the Increase Request); provided, that the Administrative Agent shall have received a duly executed officer's certificate from the Borrower which shall be dated the as of Increase Date and in substantially the form of Exhibit I hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Confirmation of the Assuming Lenders</u>. Each Assuming Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement, (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, and (iii) acknowledges and agrees that, from and after the Increase Date, the making of the associated Multicurrency Commitments shall be governed for all purposes by the Credit Agreement and the other Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Counterparts</u>. This Commitment Increase Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. The words "execution," "signed," "signature," and words of like import in or related to any document to be signed in connection with this Commitment Increase Agreement and the transactions contemplated hereby shall be deemed to include electronic signatures (including, for the avoidance of doubt, electronic signatures utilizing the DocuSign platform) or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or

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enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. <u>Consent of Administrative Agent, Issuing Banks and Swingline Lenders</u>. The Administrative Agent and each of the undersigned Issuing Banks and Swingline Lenders consent to the Commitment Increase and the execution of this Commitment Increase Agreement by each Assuming Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. <u>Governing Law</u>. This Commitment Increase Agreement shall be construed in accordance with and governed by the law of the State of New York. Sections 9.09 and 9.10 of the Credit Agreement are incorporated herein by reference *mutatis mutandis*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. <u>Miscellaneous</u>. This Commitment Increase Agreement shall be deemed a "Loan Document" as such term is defined in Section 1.01 of the Credit Agreement.

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Very truly yours,

<u>ASSUMING LENDER</u>

**Royal Bank of CAnada**

By:_s/Glenn Van Allen______________________________

&nbsp;&nbsp;&nbsp;&nbsp; Name: Glenn Van Allen

&nbsp;&nbsp;&nbsp;&nbsp; Title: Authorized Signatory

<u>ASSUMING LENDER</u>

**DEUTSCHE BANK AG NEW YORK BRANCH**

By:___s/Ming K. Chu____________________________

&nbsp;&nbsp;&nbsp;&nbsp; Name: Ming K. Chu

&nbsp;&nbsp;&nbsp;&nbsp; Title: Director

By:__s/Alison Lugo_____________________________

&nbsp;&nbsp;&nbsp;&nbsp; Name: Alison Lugo

&nbsp;&nbsp;&nbsp;&nbsp; Title: Vice President

<u>ASSUMING LENDER</u>

**U.S. BANK NATIONAL ASSOCIATION**

By:___s/Paul Pai____________________________

&nbsp;&nbsp;&nbsp;&nbsp; Name: Paul Pai

&nbsp;&nbsp;&nbsp;&nbsp; Title: Managing Director

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Accepted and agreed:

**MSD INVESTMENT CORP.**,

as Borrower

By:___s/Marcello Liguori________________________

Name: Marcello Liguori

Title: Authorized Signatory

Acknowledged and agreed:

**JPMORGAN CHASE BANK, N.A.**,

as Administrative Agent, Issuing Bank

and Swingline Lender

By:___s/Kevin Faber________________________

Name: Kevin Faber

Title: Executive Directoor

**CITIZENS BANK, N.A.**,

as Issuing Bank and Swingline Lender

By:___s/Bryan Rizzardi________________________

Name: Bryan Rizzardi

Title: Director

**GOLDMAN SACHS BANK USA**,

as Issuing Bank and Swingline Lender

By:__s/Priyankush Goswami_________________________

Name: Priyankush Goswami

Title: Authorized Signatory

**HSBC BANK USA**,

as Issuing Bank and Swingline Lender

By:_s/Michael Coretti__________________________

Name: Michael Coretti

Title: SVP

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**SUMITOMO MITSUI BANKING** 

**CORPORATION**,

as Swingline Lender

By:____s/Brett Austin_______________________

Name: Brett Austin

Title: Managing Director

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SCHEDULE I

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| | |
|:---|:---|
| &nbsp;&nbsp;**Assuming Lender** | &nbsp;&nbsp;**Commitment Increase** |
| &nbsp;&nbsp;Royal Bank of Canada | &nbsp;&nbsp;$75,000,000 (Multicurrency) |
| &nbsp;&nbsp;Deutsche Bank AG New York Branch | &nbsp;&nbsp;$50,000,000 (Multicurrency) |
| &nbsp;&nbsp;U.S. Bank National Association | &nbsp;&nbsp;$20,000,000 (Multicurrency) |

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