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Sixth Street to repay some revolver borrowings via new notes
By Marisa Wong
Los Angeles, Jan. 8 – Sixth Street Specialty Lending, Inc. plans to use proceeds from an offering of new notes to pay down a portion of the outstanding debt on its revolving credit facility dated Aug. 23, 2012, according to a 424B2 filing with the Securities and Exchange Commission.
As of Sept. 30, aggregate commitments under the facility were roughly $1.71 billion.
However, through reborrowing under the revolver, the company intends to make new investments in accordance with its investment objective and strategies.
The stated maturity date of the revolver is June 12, 2028 with respect to $1.465 billion of commitments, Jan. 31, 2025 for $25 million of commitments, Feb. 4, 2026 for $50 million of commitments and April 23, 2027 with respect to $170 million of commitments.
As of Sept. 30, amounts drawn under the facility bear interest at the applicable reference rate plus an applicable credit spread adjustment, plus a margin of either 175 basis points or 187.5 bps.
The externally managed, closed-end, non-diversified management investment company is based in Dallas.
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