TPG Specialty Lending, Inc. and Wells Fargo Bank Enter into an Indenture to the Issuance, Offer and Sale of $150,000,000 Aggregate Principal Amount of its 4.500% Notes Due 2023
January 22, 2018 at 09:42 pm
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On January 22, 2018, TPG Specialty Lending, Inc. and Wells Fargo Bank, National Association, entered into an Indenture and a First Supplemental Indenture to the Indenture, relating to the Company’s issuance, offer and sale of $150,000,000 aggregate principal amount of its 4.500% notes due 2023. The Notes will mature on January 22, 2023 and may be redeemed in whole or in part at the Company’s option at any time at the redemption prices set forth in the First Supplemental Indenture. The Notes bear interest at a rate of 4.500% per year payable semiannually on January 22 and July 22 of each year, commencing on July 22, 2018. The Notes are direct unsecured obligations of the Company. The Company expects to use the net proceeds of this offering to pay down debt under its revolving credit facility. The Indenture, as supplemented by the First Supplemental Indenture, contains certain covenants including covenants requiring the Company to comply with Section 18(a)(1)(A) as modified by Section 61(a)(1) of the Investment Company Act of 1940, as amended, or any successor provisions, but giving effect, in either case, to any exemptive relief granted to the Company by the SEC, and to provide financial information to the holders of the Notes and the Trustee if the Company should no longer be subject to the reporting requirements under the Securities Exchange Act of 1934. In addition, upon the occurrence of a change of control repurchase event (which involves the occurrence of both a change of control and a below investment grade rating of the Notes by Fitch, Inc. and Standard & Poor’s Ratings Services), the Company will be required to make an offer to purchase the Notes at a price equal to 100% of the principal amount plus accrued and unpaid interest to the date of purchase. The Notes were offered and sold pursuant to the Registration Statement on Form N-2 (File No. 333-217207), the preliminary prospectus supplement filed with the Securities and Exchange Commission on January 17, 2018 and the pricing term sheet filed with the Securities and Exchange Commission on January 17, 2018. The transaction closed on January 22, 2018.
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).
TPG Specialty Lending, Inc. and Wells Fargo Bank Enter into an Indenture to the Issuance, Offer and Sale of $150,000,000 Aggregate Principal Amount of its 4.500% Notes Due 2023
SIXTH STREET SPECIALTY LENDING, INC. 
