{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-036664","form_type":"8-K","ticker":null,"cik":"0001950803","company_name":"Stepstone Private Credit Fund LLC","filed_at":"2023-05-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.615668+00:00","generated_at":"2026-06-15T18:05:14.940822+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"StepStone Private Credit Fund subsidiary enters $81.25M BMO credit facility, SOFR+2.50%, 2030 maturity","bullets":["Initial commitment $81.25M, accordion to $100M; advance rate 65% against eligible loan assets.","Interest rate Term SOFR + 2.50% (subject to adjustment based on weighted average spread of loan assets).","Maturity May 1, 2030; facility secured by assets of SPV Facility II and pledge of equity.","Proceeds used to purchase 100% participation interests in loans from BMO under Master Participation Agreement.","Customary covenants, representations, and events of default; governed by Loan and Security Agreement."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-036664","json":"https://secwatch.observer/filing/0001213900-23-036664.json","markdown":"https://secwatch.observer/filing/0001213900-23-036664.md","text":"https://secwatch.observer/filing/0001213900-23-036664.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1950803/000121390023036664/0001213900-23-036664-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1950803/000121390023036664/ea177975-8k_stepstone.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T18:05:14.940822+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"587c7fffffde8cbeec093161531c340642d45482","claim":"Stepstone Private Credit Fund LLC incurred revolving credit of $81.250 million with Bank of Montreal at Term SOFR plus a margin of 2.50% maturing May 1, 2030.","evidence_excerpt":"On May 1, 2023, Stepstone Private Credit Fund LLC (the “Company”), through a special purpose wholly-owned subsidiary, StepStone Great Lakes SPV Facility II LLC (“SPV Facility II”), as borrower, entered into a Loan and Security Agreement (the “BMO Loan and Security Agreement”) with Bank of Montreal, a Canadian chartered bank acting through its Chicago Branch (“BMO”), as the administrative agent, as collateral agent, and as a lender, and the other lenders party thereto from time to time, to provide SPV Facility II with a revolving credit facility (the “BMO SPV II Credit Facility”). BMO has made an initial commitment of $81.250 million under the BMO SPV II Credit Facility, with an accordion provision to permit increases to the total facility amount up to $100 million, subject to the satisfaction of certain conditions.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1950803/000121390023036664/0001213900-23-036664-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$81.250 million"},{"label":"Counterparty","value":"Bank of Montreal"},{"label":"Rate","value":"Term SOFR plus a margin of 2.50%"},{"label":"Maturity","value":"May 1, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a736671f57c311da8f2dd085d0cd50feb4fdecd3","claim":"Stepstone Private Credit Fund LLC entered into BMO Loan and Security Agreement with Bank of Montreal valued at Revolving credit facility with initial commitment of $81.250 million, accordion up to $100 million, (effective 2023-05-01).","evidence_excerpt":"On May 1, 2023, Stepstone Private Credit Fund LLC (the “Company”), through a special purpose wholly-owned subsidiary, StepStone Great Lakes SPV Facility II LLC (“SPV Facility II”), as borrower, entered into a Loan and Security Agreement (the “BMO Loan and Security Agreement”) with Bank of Montreal, a Canadian chartered bank acting through its Chicago Branch (“BMO”), as the administrative agent, as collateral agent, and as a lender, and the other lenders party thereto from time to time, to provide SPV Facility II with a revolving credit facility (the “BMO SPV II Credit Facility”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1950803/000121390023036664/0001213900-23-036664-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of Montreal"},{"label":"Value","value":"Revolving credit facility with initial commitment of $81.250 million, accordion up to $100 million,"},{"label":"Effective","value":"2023-05-01"}],"fact_type":"material_agreement"},{"claim_id":"a833f030c5e77afc980df38e73f879e2de966386","claim":"Stepstone Private Credit Fund LLC entered into BMO Sourcing & Servicing Agreement with Bank of Montreal valued at BMO as seller and servicer to present loans to SPV Facility II and perform reporting and administrat (effective 2023-05-01).","evidence_excerpt":"(ii) the Sourcing and Servicing Agreement, dated as of May 1, 2023 (the “BMO Sourcing & Servicing Agreement”). Under the BMO Sourcing & Servicing Agreement, (i) BMO, as seller and as servicer, agrees, from time to time, to present to SPV Facility II certain loans, and may, from time to time, sell to SPV Facility II certain loans or participation interests in such loans (“S&SA Investments”) pursuant to the BMO Participation Agreement and SPV Facility II may, from time to time, purchase such S&SA Investments and (ii) SPV Facility II will engage BMO to perform various reporting and administrative duties as set forth in the BMO Sourcing & Servicing Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1950803/000121390023036664/0001213900-23-036664-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Bank of Montreal"},{"label":"Value","value":"BMO as seller and servicer to present loans to SPV Facility II and perform reporting and administrat"},{"label":"Effective","value":"2023-05-01"}],"fact_type":"material_agreement"},{"claim_id":"bc66e855bd525e15f14d430422caa3878a87b9d5","claim":"Stepstone Private Credit Fund LLC entered into BMO Participation Agreement with Bank of Montreal valued at Undivided 100% participation interest in S&SA Investments sold to SPV Facility II (effective 2023-05-01).","evidence_excerpt":"In connection with the entry into the BMO SPV II Credit Facility, SPV Facility II and BMO also entered into (i) the Master Participation Agreement, dated as of May 1, 2023 (the “BMO Participation Agreement”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1950803/000121390023036664/0001213900-23-036664-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Bank of Montreal"},{"label":"Value","value":"Undivided 100% participation interest in S&SA Investments sold to SPV Facility II"},{"label":"Effective","value":"2023-05-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}