PGIM Private Credit Fund Secures $1B Revolving Credit Facility

TL;DR

PGIM Private Credit Fund just locked in a $1B credit line, extendable to $1.5B, maturing in 2029. Good for liquidity!

AI Summary

PGIM Private Credit Fund announced on December 23, 2024, that it has entered into a new credit agreement. This agreement involves a revolving credit facility with a maximum principal amount of $1.0 billion, which can be increased to $1.5 billion under certain conditions. The facility matures on December 23, 2029, and is intended to provide ongoing liquidity for the fund's investment activities.

Why It Matters

This new credit facility provides PGIM Private Credit Fund with significant liquidity, enabling it to continue its investment strategy and potentially capitalize on new opportunities in the private credit market.

Risk Assessment

Risk Level: low — The filing is a standard disclosure of a credit facility, which is a common financing tool for investment funds and does not inherently indicate elevated risk.

Key Numbers

• $1.0B — Revolving Credit Facility (Initial principal amount to support fund operations and investments.)
• $1.5B — Accordion Feature (Potential increase in credit facility size, offering flexibility.)
• 5 years — Maturity (Duration of the credit facility until December 23, 2029.)

Key Players & Entities

• PGIM Private Credit Fund (company) — Registrant
• $1.0 billion (dollar_amount) — Initial principal amount of revolving credit facility
• $1.5 billion (dollar_amount) — Maximum principal amount with accordion feature
• December 23, 2024 (date) — Date of earliest event reported
• December 23, 2029 (date) — Maturity date of the revolving credit facility

FAQ

Key Financial Figures

• $119.7 m — 30, 2024, the Fund's aggregate NAV was $119.7 million, the fair value of its investment
• $192.8 m — r value of its investment portfolio was $192.8 million, and it had $78.2 million of debt
• $78.2 million — ortfolio was $192.8 million, and it had $78.2 million of debt outstanding (at principal). St
• $2.5 billion — ly offering on a continuous basis up to $2.5 billion in Shares (the " Offering "). Additiona

Filing Documents

• tm2432171d1_8k.htm (8-K) — 41KB
• 0001104659-24-132438.txt ( ) — 206KB
• none-20241223.xsd (EX-101.SCH) — 3KB
• none-20241223_lab.xml (EX-101.LAB) — 33KB
• none-20241223_pre.xml (EX-101.PRE) — 22KB
• tm2432171d1_8k_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. December 2024 Distributions On December 30, 2024, PGIM Private Credit Fund (the " Fund ") declared regular and variable distributions for Class S shares, Class D shares and Class I shares of beneficial interest (the " Shares ") in the amounts per share set forth below: Regular Distribution Variable Distribution Total Distribution Class S Common Shares $ 0.22177 $ 0.02946 $ 0.25123 Class D Common Shares $ 0.23485 $ 0.02781 $ 0.26266 Class I Common Shares $ 0.24000 $ 0.02868 $ 0.26868 Both the regular and variable distributions for the Shares are payable to shareholders of record as of the open of business on December 31, 2024 and will be paid on or about January 28, 2025. These distributions will be paid in cash or reinvested in shares of the Fund's Shares for shareholders participating in the Fund's distribution reinvestment plan (" DRIP ").

01. Other Events

Item 8.01. Other Events. Net Asset Value The net asset value (" NAV ") per share of each class of the Fund as of November 30, 2024, as determined in accordance with the Fund's valuation policy, is set forth below. NAV as of November 30, 2024 Class S Common Shares $ 25.35 Class D Common Shares $ 25.33 Class I Common Shares $ 24.88 As of November 30, 2024, the Fund's aggregate NAV was $119.7 million, the fair value of its investment portfolio was $192.8 million, and it had $78.2 million of debt outstanding (at principal). Status of Offering The Fund is currently publicly offering on a continuous basis up to $2.5 billion in Shares (the " Offering "). Additionally, the Fund has sold shares that are exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereunder (the " Private Offering "). The following table lists the Shares issued and total consideration for both the Offering and the Private Offering as of the date of this filing, reflective of transfers between share classes. The table below does not include Shares sold through the Fund's DRIP. The Fund intends to continue selling Shares in the Offering and the Private Offering on a monthly basis. Common Shares Issued Total Consideration Offering: Class S Common Shares — $ — Class D Common Shares — $ — Class I Common Shares 48,657 $ 1,202,500 Private Offering: Class S Common Shares 382 $ 10,000 Class D Common Shares 382 $ 10,000 Class I Common Shares 4,285,940 $ 109,102,500 Total Offering and Private Offering * 4,335,361 $ 110,325,000 * Amounts may not sum due to rounding. SIGNATURE 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. PGIM PRIVATE CREDIT FUND Date: December 30, 2024 By: /s/ Elyse M. McLaughlin Name: Elyse M. McLaughlin Title: Treasurer and Prin

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View this 8-K filing on SEC EDGAR