StepStone special purpose vehicle borrows $250 million revolver

Chicago, Dec. 6 – StepStone Private Credit Fund LLC, listing Stepstone SPV Facility III LLC as borrower, closed on Dec. 1 on a $250 million revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

Interest will be at daily simple SOFR plus 265 basis points, with a 0% floor.

Loans, or all the assets held by SPV, will secure the credit facility, which may affect the borrowing base.

There is a non-use fee for the six months of 50 bps. The non-use fee goes up to 65 bps after the introductory period.

The reinvestment period ends Dec. 1, 2026.

The credit facility matures Dec. 1, 2028.

Wells Fargo Bank, NA is the administrative agent.

UMB Bank, NA is the collateral agent.

Stepstone is the collateral manager.

The credit fund is based in New York.

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