Private credit ·
StepStone Private Credit Fund upsizes its Wells Fargo SPV III facility to $1.0bn and cuts the margin to 1.95%
8-K Items 1.01/2.03 (accession 0001193125-26-423870, filed Oct 16, 2026): the Wells Fargo Fifth Amendment, dated Oct 15, 2026, increases aggregate commitments under the Wells Fargo SPV III Credit Facility to $1.0 billion, with an accordion up to an aggregate maximum of $1.5 billion; extends the reinvestment period end to Oct 15, 2029 and maturity to Oct 15, 2031; and decreases the applicable margin to 1.95%. The filing does not state the prior margin.
Why it matters for deal teams: Back-leverage is still getting bigger, longer and cheaper for large non-traded credit vehicles, even as some lenders tighten sector caps. Use it as a pricing reference point for facility negotiations.
Source: SEC Form 8-K (StepStone Private Credit Fund LLC) ↗