Stepstone Private Credit Fund LLC: debt financing — StepStone Private Credit Fund issues $300M senior notes in four tranches

Stepstone Private Credit Fund LLC

Issued $75M 5.94% Tranche A due 2028, $75M 5.94% Tranche B due 2029, $75M 6.32% Tranche C due 2030, $75M 6.32% Tranche D due 2031.
Tranches A and C closed Dec 17, 2025; Tranches B and D expected to close Mar 17, 2026.
Notes are unsecured, rank pari passu; rates may increase up to 2% if below investment grade or secured debt ratio thresholds are breached.
Entered interest rate swaps converting fixed rates to floating (three-month SOFR plus spread) to align with floating-rate loan portfolio.
Proceeds for general corporate purposes including investments, debt repayment, and distributions.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Stepstone Private Credit Fund LLC incurred senior notes of $75,000,000 at 6.32% maturing December 17, 2030.

Instrument: senior notes
Principal: $75,000,000
Rate: 6.32%
Maturity: December 17, 2030
Event: incurrence

Exact text from the filing

$75,000,000 in aggregate principal amount of its 6.32% Series 2025 Senior Notes, Tranche C, due December 17, 2030

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Stepstone Private Credit Fund LLC incurred senior notes of $75,000,000 at 6.32% maturing March 17, 2031.

Instrument: senior notes
Principal: $75,000,000
Rate: 6.32%
Maturity: March 17, 2031
Event: incurrence

Exact text from the filing

$75,000,000 in aggregate principal amount of its 6.32% Series 2025 Senior Notes, Tranche D, due March 17, 2031

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Stepstone Private Credit Fund LLC incurred senior notes of $75,000,000 at 5.94% maturing December 17, 2028.

Instrument: senior notes
Principal: $75,000,000
Rate: 5.94%
Maturity: December 17, 2028
Event: incurrence

Exact text from the filing

$75,000,000 in aggregate principal amount of its 5.94% Series 2025 Senior Notes, Tranche A, due December 17, 2028

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Stepstone Private Credit Fund LLC incurred senior notes of $75,000,000 at 5.94% maturing March 17, 2029.

Instrument: senior notes
Principal: $75,000,000
Rate: 5.94%
Maturity: March 17, 2029
Event: incurrence

Exact text from the filing

$75,000,000 in aggregate principal amount of its 5.94% Series 2025 Senior Notes, Tranche B, due March 17, 2029

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Stepstone Private Credit Fund LLC entered into 2025 Note Purchase Agreement with qualified institutional investors valued at $75,000,000 (effective 2025-12-17).

Action: entry
Agreement: notes offering
Counterparty: qualified institutional investors
Value: $75,000,000
Effective: 2025-12-17

Exact text from the filing

On December 17, 2025, StepStone Private Credit Fund LLC (the “ Company ”) entered into a Master Note Purchase Agreement (the “ 2025 Note Purchase Agreement ”) governing the issuance of $75,000,000 in aggregate principal amount of its 5.94% Series 2025 Senior Notes, Tranche A, due December 17, 2028

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Source: SEC EDGAR

accession 0001193125-25-328294

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