$MSDL

Morgan Stanley Direct Lending Fund (MSDL) filed an SEC Form 8-K — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 26, 2026, Kevin Shannon notified Morgan Stanley Direct Lending Fund (the “Company”) of his intention to resig

Morgan Stanley Direct Lending (MSDL) reported Q2 earnings with net investment income down to $0.45 per share from $0.47. NAV fell to $19.50. Dividend held at $0.45. Repurchased 831,486 shares at $15.06, below NAV. Extended credit facility to 2030. Issued $350M in notes. Non-accruals increased, impacting income.

Private credit markets are showing increasing signs of distress, with non-accrual debt rising among the largest BDCs. In Q2, non-accrual debt at the top 10 BDCs increased to 3.95% of total debt, up from 3.75% in Q1. The broader BDC universe also saw a rise in non-accrual borrowers, reaching 4.69% in Q1 2026. Adjusted non-accrual rates are higher, indicating wider credit stress. Interest income at risk is climbing, potentially impacting BDC yields.

Morgan Stanley Direct Lending Fund (NYSE:MSDL) reported Q2 2026 results on Aug. 7. NAV per share fell 1.6% to $19.50, driven by $30.2M net realized and unrealized losses, while net investment income of $0.45 per share covered the dividend. Adjusted EPS was $0.09 vs $0.52 consensus. Shares trade at $15.44, about a 21% discount to NAV.

Morgan Stanley Direct Lending Fund (MSDL) reported Q2 2026 net investment income of $0.45 per share, down from $0.47, and adjusted EPS of $0.09 versus a $0.52 forecast. Revenue was $88.77 million. The board kept the quarterly dividend at $0.45 per share. NAV per share fell to $19.50 from $19.81, and the fund repurchased $12.5 million of stock.

Morgan Stanley Direct Lending Fund (MSDL) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Morgan Stanley Direct Lending Fund Announces June 30, 2026 Financial Results and Declares Third Quarter 2026 Regular Dividend of $0.45 per Share NEW YORK, NY, August 6, 2026 — Morgan Stanley Direct Lending Fund (NYSE: MSDL) (“MSDL” or the “Company”), a business devel

Morgan Stanley Direct Lending Fund (MSDL) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-4.2 2 d918611dex42.htm EX-4.2 EX-4.2 Exhibit 4.2 FOURTH SUPPLEMENTAL INDENTURE between MORGAN STANLEY DIRECT LENDING FUND and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee DATED AS OF JULY 9, 2026 FOURTH SUPPLEMENTAL INDENTURE THIS FOURTH SUPPLEMENTAL INDENTURE (th

Morgan Stanley Direct Lending Fund (MSDL) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-1.1 2 d103781dex11.htm EX-1.1 EX-1.1 Exhibit 1.1 E XECUTION V ERSION MORGAN STANLEY DIRECT LENDING FUND (a Delaware corporation) $350,000,000 6.100% Notes due 2031 UNDERWRITING AGREEMENT Dated: June 29, 2026 MORGAN STANLEY DIRECT LENDING FUND (a Delaware corporation) $350,000,

A MarketBeat comparison of Morgan Stanley Direct Lending Fund (NYSE:MSDL) and BlackRock TCP Capital (NASDAQ:TCPC) cites dividends, analyst targets, valuation, and risk. MSDL pays $1.80/share (11.5% yield) vs TCPC $0.68/share (17.3%). MSDL’s payout is 178.2% of earnings; TCPC’s is -45.6%. Consensus targets: $15.54 for MSDL and $3.50 for TCPC.

Morgan Stanley Direct Lending Fund (MSDL) stock has reached a new 52-week low of $13.67, representing a 31.18% decrease over the past year. Despite this, the fund offers a 13% dividend yield and trades at a P/E ratio of 9.98. Raymond James recently lowered its price target for MSDL from $18.50 to $17.00 but maintained an Outperform rating, signaling continued potential despite market challenges.