HPS Corporate Lending Fund gets $925 million revolver maturing in 2027

By Wendy Van Sickle

Columbus, Ohio, June 29 – HPS Corporate Lending Fund, entered into a senior secured revolving credit facility maturing in five years, according to an 8-K filed with the Securities and Exchange Commission.

The availability period will terminate in four years.

The initial principal amount under the June 23 agreement is $925 million with an accordion provision to permit increases to the total facility amount up to $1.85 billion, subject to the satisfaction of certain conditions.

There is a $200 million sublimit for swingline loans.

The facility will mature on June 23, 2027.

The loans will bear interest at adjusted term SOFR plus 175 basis points or 187.5 bps, depending on the borrowing base. There is a fee of 37.5 bps on unused commitments.

JPMorgan Chase Bank, NA is administrative agent and is a joint bookrunner and lead arranger along with Goldman Sachs Bank USA, MUFG Bank, Ltd., Royal Bank of Canada and Sumitomo Mitsui Banking Corp.

Proceeds may be used for general corporate purposes.

The New York-based fund seeks to invest primarily in newly originated senior secured debt and debt securities.

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