Sixth Street Lending enters up to $400 million revolver

By Wendy Van Sickle

Columbus, Ohio, Sept. 6 – Sixth Street Lending Partners entered into an up to $400 million revolving credit facility with Wells Fargo Bank, NA as administrative agent and lead arranger on Sept. 1, according to an 8-K filing with the Securities and Exchange Commission.

The availability is subject to a borrowing base that is based on unfunded capital commitments.

Sixth Street may increase the size of the facility under certain conditions up to a maximum of $1.5 billion.

Borrowings bear interest at adjusted term SOFR plus 170 basis points. There is a credit spread adjustment ranging from 10 bps to 25 bps.

There is a fee on unused commitments of 25 bps.

The credit facility has a term of two years with a 364-day extension option.

The credit facility is secured by a perfected first priority security interest in the company’s rights, titles, interests and privileges in and to the capital commitments of the company’s investors.

Sixth Street Lending is a Dallas-based business development company.

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