Partners Group Lending Fund has established a secured Credit Facility with $75,000,000 committed capacity and $175,000,000 uncommitted capacity, while PG BDC Finance II can seek increases up to $1,000,000,000. The structure is intended to fund eligible Loan origination and acquisitions, while the Fund retains a residual interest in contributed or acquired assets.

Key Highlights

  • Borrowing availability depends on a borrowing-base test tied to eligible loan assets, advance rates and concentration limits.
  • The facility supports draws in U.S. dollars, British pounds, Canadian dollars and euros, subject to stated conditions.
  • Borrowing capacity is subject to eligibility requirements and a borrowing-base test using eligible loan assets, advance rates and concentration limits.

Loan Asset Funding Structure

The facility and related Sale and Contribution Agreement are dated September 18, 2026. Those transactions will not produce a recognized gain or loss. PG BDC Finance II’s borrowing capacity is subject to eligibility requirements and a borrowing-base test that uses the value of eligible loan assets, applicable advance rates and concentration limits. The facility permits advances in multiple currencies, subject to conditions.

Credit Pricing and Fees

U.S.-dollar advances use Term SOFR as their benchmark, while British-pound advances use SONIA. Canadian-dollar borrowings reference Term CORRA with an adjustment of 0.32138%, and euro advances use EURIBOR. PG BDC Finance II paid SMBC an upfront fee and is required to pay an annual administrative agent fee, along with certain expense reimbursements connected with SMBC’s role as Administrative Agent.

Collateral and Repayment Terms

Assets pledged to lenders are unavailable for paying the Fund’s debts. Before the stated maturity, principal and interest collected on loan Assets must first cover fees, expenses and interest on outstanding advances.