Stepstone Private Credit Fund LLC: debt financing — StepStone Private Credit Fund upsizes Wells Fargo credit facility to $650M, sells $77.4M in shares

Stepstone Private Credit Fund LLC

Amended credit facility increased to $650M aggregate commitments, accordion to $900M; bears Daily Simple SOFR + 2.15%.
New lender Raymond James Bank added; maturity Feb 27, 2030, reinvestment period ends Feb 27, 2028.
Sold 2,949,038.56 unregistered shares for $77.4M in private offering; total issued shares 37.77M for $981.7M.
Net asset value per share as of Jan 31, 2025: $26.23; aggregate NAV $955.8M, portfolio $1.6988B, debt $791.2M.

item 1.01 item 2.03 item 3.02 item 8.01 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 amended revolving credit of $650.0 million with Wells Fargo Bank, National Association at Daily Simple SOFR plus a margin of 2.15% maturing February 27, 2030.

Instrument: revolving credit
Principal: $650.0 million
Counterparty: Wells Fargo Bank, National Association
Rate: Daily Simple SOFR plus a margin of 2.15%
Maturity: February 27, 2030
Event: amendment

Exact text from the filing

Credit Facility”). The Company serves as collateral manager and equityholder under the Wells Fargo Loan and Security Agreement. The lenders have made aggregate commitments of $650.0 million under the Wells Fargo SPV III Credit Facility. In addition, the Wells Fargo SPV III Credit Facility includes an accordion feature providing the Borrower with the right to request

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Source: SEC EDGAR

accession 0001213900-25-018596

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