TPG Specialty Lending, Inc. Increases and Extends its Revolving Credit Facility
January 31, 2020 at 09:05 pm
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TPG Specialty Lending, Inc. announced that it has increased its Revolving Credit Facility (the “Facility”) from $1.245 billion to $1.315 billion and extended the final maturity date by approximately one year, to January 31, 2025. The Facility was led by SunTrust Robinson Humphrey, JPMorgan Chase Bank, N.A. and MUFG Union Bank, N.A. as joint lead arrangers and includes a total of 20 bank participants. The accordion feature, which would allow the Company, under certain circumstances, to upsize the Facility has also increased from a maximum of $1.50 billion to $1.75 billion. Pricing and advance rates under the Facility remain unchanged.
Sixth Street Specialty Lending, Inc. is a specialty finance company focused on lending to middle-market companies. The Company seeks to generate current income primarily in United States-domiciled middle-market companies through direct originations of senior secured loans and, to a lesser extent, originations of mezzanine and unsecured loans and investments in corporate bonds, equity securities, and other instruments. The Company invests in first-lien debt, second-lien debt, mezzanine and unsecured debt and equity and other investments. The Companyâs first-lien debt may include stand-alone first-lien loans, last out first-lien loans, unitranche loans and secured corporate bonds with similar features to these categories of first-lien loans. Its second-lien debt may include secured loans, and to a lesser extent, secured corporate bonds, with a secondary priority behind first-lien debt. The Company is managed by Sixth Street Specialty Lending Advisers, LLC (the Adviser).