Mount Logan Capital secures lender waiver for specified credit agreement defaults
MLCI•Mount Logan Capital’s subsidiary MLC US Holdings secured limited waivers for specified credit agreement defaults. The waivers cover terminated management agreements and cancellation of a $15 million promissory note.
1. Credit agreement waivers
MLC US Holdings amended its credit agreement on October 9, 2026, securing limited waivers for defaults tied to the termination of the ACIF and Logan Ridge management agreements and the cancellation of the SCIM Promissory Note.
2. Promissory note settlement
The $15 million SCIM Promissory Note was canceled and released as collateral. Sierra Crest Investment Management assigned revenue-sharing rights to MLC US Holdings to satisfy the note’s outstanding principal; the revenue share equals 29.88% of BC Partners Advisors’ BCPLC management and incentive fees, less certain sales force compensation.
