Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 31

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 31
---
,

6.75%,

10/01/35

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

United

States

85,000

87,327

Senior

Note,

144A,

6.5%,

10/01/33

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

United

States

115,000

117,162

b

Transocean

Poseidon

Ltd.

,

Senior

Secured

Note

,

144A,

6.875

%

,

2/01/27

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

United

States

92,250

92,435

b

Transocean

Titan

Financing

Ltd.

,

Senior

Secured

Note

,

144A,

8.375

%

,

2/01/28

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

United

States

80,952

83,163

380,087

#### Entertainment

#### 0.2%
b

Banijay

Entertainment

SAS

,

Senior

Secured

Note

,

144A,

8.125

%

,

5/01/29

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

France

360,000

374,202

### Financial

#### Services

#### 1.0%
b

CrossCountry

Intermediate

HoldCo

LLC

,

Senior

Note

,

144A,

6.5

%

,

10/01/30

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

United

States

60,000

60,296

b

Freedom

Mortgage

Corp.

,

Senior

Note

,

144A,

12.25

%

,

10/01/30

United

States

355,000

396,317

Putnam

Master

Intermediate

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

### financial
statements.

Annual

Report

15

a

a

#### Country

#### Principal

#### Amount
***

a**

#### Value
a

#### a

#### a
a

#### a

#### Corporate

#### Bonds
(continued)

### Financial

#### Services
(continued)

b

Jefferson

Capital

Holdings

LLC

,

Senior

Note

,

144A,

9.5

%

,

2/15/29

United

States

450,000

$

475,573

b

Nationstar

Mortgage

Holdings,

Inc.

,

Senior

Bond

,

144A,

5.75

%

,

11/15/31