Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 51

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 51
---

................

Germany

131,212

131,686

903,154

a

a

a

a

a

a

g

#### Media

#### 0.4%
Clear

Channel

Outdoor

Holdings,

Inc.,

First

Lien,

2024

Refinancing

CME

Term

Loan,

8.278%,

(1-month

SOFR

+

4%),

8/23/28

.........................................

United

States

170,000

170,510

CSC

Holdings

LLC,

First

Lien,

Term

Loan,

B5,

8.75%,

(PRIME

+

1.5%),

4/15/27

....................................

United

States

206,719

200,517

Putnam

Master

Intermediate

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

### financial
statements.

22

a

a

#### Country

#### Principal

#### Amount
***

a**

#### Value
a

#### a

#### a
a

#### a
f

#### Senior

#### Floating

#### Rate

#### Interests
(continued)

g

#### Media
(continued)

### DIRECTV
Financing

LLC,

First

Lien,

2024

Refinancing

CME

Term

Loan,

B,

9.82%,

(3-month

SOFR

+

5.25%),

8/02/29

........

United

States

400,687

$

401,877

772,904

a

a

a

a

a

a

#### Oil,

#### Gas
#### &

#### Consumable

#### Fuels

#### 0.4%
g

CQP

Holdco

LP,

First

Lien,

Initial

CME

Term

Loan,

6.296%,

(3-month

SOFR

+

2%),

12/31/30

......................

United

States

687,859

688,653

g

#### Passenger

#### Airlines

#### 0.3%
AAdvantage

Loyalty

IP

Ltd.,

First

Lien,

2025

Incremental

CME

Term

Loan,

7.575%,

(3-month

SOFR

+

3.25%),

5/