StepStone Private Credit Fund LLC, through its special purpose subsidiary StepStone SPV Facility III LLC, entered into an amendment agreement dated October 15, 2026, with Wells Fargo Bank, National Association, as the administrative agent. This amendment, known as the Wells Fargo Fifth Amendment, modifies the existing Loan and Security Agreement originally dated December 1, 2023.
The amendment increases the aggregate commitments under the revolving credit facility to $1.0 billion. It includes an accordion feature that allows the borrower to request increases in commitments from new or existing lenders on the same terms, up to a maximum aggregate amount of $1.5 billion.
Additionally, the amendment extends the scheduled reinvestment period end date and the scheduled maturity date to October 15, 2029, and October 15, 2031, respectively. The amendment also decreases the applicable margin on borrowings under the facility to 1.95%.
Under the updated terms, the borrower is required to pay a non-use fee. This fee applies during a six-month period following the amendment date or the closing date of a permitted securitization transaction. The fee structure is tiered, charging 0.50% on the difference between the daily outstanding balance and the maximum available commitments up to 65% of that maximum, plus 1.50% on any amount exceeding that threshold.
The amendment is attached as Exhibit 10.1 to the Form 8-K filing.
