Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 26

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 26
---
050

b

Standard

Building

Solutions,

Inc.

,

Senior

Note,

144A,

6.5%,

8/15/32

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

United

States

130,000

133,516

Putnam

Master

Intermediate

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

### financial
statements.

Annual

Report

13

a

a

#### Country

#### Principal

#### Amount
***

a**

#### Value
a

#### a

#### a
a

#### a

#### Corporate

#### Bonds
(continued)

#### Building

#### Products
(continued)

b

Standard

Building

Solutions,

Inc.,

(continued)

Senior

Note,

144A,

6.25%,

8/01/33

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

United

States

130,000

$

131,860

1,335,239

#### Capital

#### Markets

#### 1.2%
Ares

Capital

Corp.

,

Senior

Note

,

7

%

,

1/15/27

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

United

States

410,000

422,157

b

Jane

Street

Group

/

JSG

Finance,

Inc.

,

Senior

Secured

Note

,

144A,

6.75

%

,

5/01/33

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

United

States

435,000

452,145

Morgan

Stanley

,

Senior

Note

,

5.123%

to

1/31/28,

FRN

thereafter

,

2/01/29

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

United

States

610,000

623,212

b

Stonex

Escrow

Issuer

LLC

,

Secured

Note

,

144A,

6.875

%

,

7/15/32

United

States

120,000

123,614

b

UBS

Group

AG

,

Senior

Note

,

144A,

5.428%

to

2/07/29,

FRN

thereafter

,

2/08/30

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

Switzerland

200,000

206,675

1,827,803

#### Chemicals

#### 0.5%
b

Avient

Corp.

,

Senior

Note

,

144A,

6.25

%

,

11/01/31

...........