Principal Credit Real Estate Income Trust: debt financing — Principal Credit REIT enters $250M repurchase facility with Citibank; declares $0.1350/share June distribution

Principal Credit Real Estate Income Trust

PCREDIT Levered B LLC, a wholly-owned subsidiary, entered a $250M Master Repurchase Agreement with Citibank N.A. to finance eligible loan acquisitions.
Advances bear interest at Term SOFR plus a margin; facility matures June 27, 2027, with possible extension.
Company provides a guaranty covering up to 25% of the outstanding repurchase obligations, becoming full recourse on certain events.
Declared June 2025 distributions of $0.1350 per share for Class A, F-I, I, and E common shares, payable July 18, 2025 to holders of record June 30.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Principal Credit Real Estate Income Trust incurred credit facility of $250 million with Citibank, N.A. at Term SOFR for a one month period plus a margin as agreed upon by Citi and Seller maturing June 27, 2027.

Instrument: credit facility
Principal: $250 million
Counterparty: Citibank, N.A.
Rate: Term SOFR for a one month period plus a margin as agreed upon by Citi and Seller
Maturity: June 27, 2027
Event: incurrence

Exact text from the filing

by the Seller of eligible loans as more particularly described in the Repurchase Agreement. The Repurchase Agreement provides for asset purchases by Citi for a maximum amount of $250 million. Advances under the Repurchase Agreement accrue interest at a per annum rate equal to the Term SOFR (as defined in the Repurchase Agreement) for a one month period plus a margin

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Source: SEC EDGAR

accession 0002026448-25-000058

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