HPS Corporate Lending Fund unit doubles revolver to $1 billion

By Wendy Van Sickle

Columbus, Ohio, Sept. 21 – HPS Corporate Lending Fund’s wholly owned subsidiary Hlend Holdings B, LP amended its secured revolving credit facility originally entered on July 19 to double the maximum principal amount to $1 billion, according to an 8-K filed with the Securities and Exchange Commission.

The Sept. 16 amendment also changes the applicable margin to 190 basis points for broadly syndicated loan assets and to 245 bps for non-broadly syndicated loan assets.

Borrowings will bear interest at SOFR, Sonia, Euribor, CDOR, BBSY, Stibor, Cibor, Nibor or BKBM plus the applicable margin. In each case, interest is subject to a blended floor of 2.15% plus a credit spread management adjustment, based on currency, of up to 15 bps.

Bank of America, NA is the administrative agent.

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

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