PGIM Private Credit Fund Enters Material Agreement
Ticker: PGIM · Form: 8-K · Filed: Jan 23, 2025 · CIK: 1923622
| Field | Detail |
|---|---|
| Company | Pgim Private Credit Fund (PGIM) |
| Form Type | 8-K |
| Filed Date | Jan 23, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $150 million, $175 million, $350 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
PGIM Private Credit Fund just signed a big deal, creating a new financial obligation.
AI Summary
On January 17, 2025, PGIM Private Credit Fund entered into a material definitive agreement. This agreement also created a direct financial obligation for the registrant. The filing includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates a significant new financial commitment or agreement for PGIM Private Credit Fund, which could impact its future financial performance and investment strategies.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating new financial obligations can introduce new risks related to the terms of the agreement and the fund's ability to meet its obligations.
Key Players & Entities
- PGIM Private Credit Fund (company) — Registrant
- January 17, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 655 Broad Street Newark, New Jersey 07102-4410 (address) — Principal executive offices
FAQ
What type of material definitive agreement did PGIM Private Credit Fund enter into?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on January 17, 2025.
What is the nature of the direct financial obligation created?
The filing states that a direct financial obligation was created but does not provide specific details about its terms or amount.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on January 17, 2025.
What is the principal executive office address for PGIM Private Credit Fund?
The principal executive offices are located at 655 Broad Street, Newark, New Jersey 07102-4410.
What is the SEC file number for PGIM Private Credit Fund?
The SEC file number for PGIM Private Credit Fund is 814-01582.
Filing Stats: 596 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2025-01-23 16:47:38
Key Financial Figures
- $150 million — evolving Credit Facility increased from $150 million to $175 million. The accordion feature
- $175 million — Facility increased from $150 million to $175 million. The accordion feature of the Revolving
- $350 million — te commitments under the facility up to $350 million. The foregoing description is qualifie
Filing Documents
- tm254157d1_8k.htm (8-K) — 27KB
- tm254157d1_ex10-1.htm (EX-10.1) — 19KB
- 0001104659-25-005654.txt ( ) — 214KB
- none-20250117.xsd (EX-101.SCH) — 3KB
- none-20250117_lab.xml (EX-101.LAB) — 33KB
- none-20250117_pre.xml (EX-101.PRE) — 22KB
- tm254157d1_8k_htm.xml (XML) — 3KB
01
Item 1.01. Entry into a Material Definitive Agreement. On January 17, 2025, PGIM Private Credit Fund (the "Fund") entered into an agreement with Natixis, New York Branch (the "Commitment Increase Agreement"), pursuant to which, through the accordion feature in the Fund's senior secured revolving credit agreement among the Fund, as borrower, Sumitomo Mitsui Banking Corporation, as administrative agent, and the lenders and issuing banks from time to time party thereto (as amended and supplemented, the "Revolving Credit Facility"), the aggregate commitments of the Revolving Credit Facility increased from $150 million to $175 million. The accordion feature of the Revolving Credit Facility allows the Fund, under certain circumstances, to increase the aggregate commitments under the facility up to $350 million. The foregoing description is qualified in its entirety by reference to a copy of the Commitment Increase Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein. Item2.03 – Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Response to Notice of Commitment Increase Request, dated as of January 17, 2025, by and among PGIM Private Credit Fund, as borrower, Sumitomo Mitsui Banking Corporation, as administrative agent, and the lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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: January 23, 2025 By: /s/ George Hoyt Name: George Hoyt Title: Assistant Secretary