BlackRock Private Credit Fund subsidiary enters $200M loan facility; subscribes $68.7M equity

BlackRock Private Credit Fund

PCFL II borrows up to $200M under loan agreement with Société Générale as administrative agent.
Interest rate: Term SOFR + 1.15% (year 1), then 1.25% thereafter; maturity 2 years plus extension.
Company subscribes to $68.7M equity membership interests in PCFL II to fund leveraged loan portfolio.
Proceeds used to acquire broadly syndicated leveraged loans; initial assets from affiliate PCFL I.
Loan includes customary covenants, limits on additional debt and distributions, and events of default.

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