UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 | Entry into a Material Definitive Agreement. |
On June 23, 2025, 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 an amendment agreement dated as of June 23, 2025 (the “BMO Third Amendment”) to that certain Loan and Security Agreement, dated as of May 1, 2023, with Bank of Montreal, a Canadian chartered bank acting through its Chicago Branch, as the administrative agent, as collateral agent, and as a lender, and the other lenders party thereto from time to time, which provides SPV Facility II with a revolving credit facility (as amended, including by the BMO Third Amendment, the “BMO SPV II Credit Facility”). The BMO Third Amendment, among other changes, (i) increased the aggregate commitments by the lenders under the BMO SPV II Credit Facility to $162,500,000 from $109,500,000, (ii) reduced the applicable margin on borrowings under the BMO SPV II Credit Facility, such that borrowings under the BMO SPV II Credit Facility will generally bear interest at a rate per annum equal to Term SOFR plus a margin of 2.35%, and (iii) extended the commitment termination date under the BMO SPV II Credit Facility to June 30, 2027. The scheduled maturity date of the BMO SPV II Credit Facility remains unchanged at May 1, 2030, unless sooner terminated in accordance with its terms.
The foregoing description of the BMO Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the BMO Third Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The disclosure set forth above under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit No. | Description | |
10.1 | Amendment No. 3 to Loan and Security Agreement, dated as of June 23, 2025, among Stepstone Great Lakes SPV Facility II LLC, as borrower, StepStone Private Credit Fund LLC, as the fund and as manager, each lender party to the Loan and Security Agreement, and Bank of Montreal, as the administrative agent and as collateral agent.* | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
* | Schedules and/or exhibits to this Exhibit have been omitted in accordance with Item 601 of Regulation S-K. The registrant agrees to furnish supplementally a copy of all omitted schedules to the SEC upon its request. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 24, 2025
StepStone Private Credit Fund LLC | ||
By: | /s/ Joseph Cambareri | |
Name: Joseph Cambareri | ||
Title: Chief Financial Officer |