TPG Specialty Lending, Inc. Upsizes and Extends its Revolving Credit Facility
January 03, 2017 at 04:05 pm EST
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TPG Specialty Lending, Inc. announced that it has upsized and extended its senior secured revolving credit facility. Total commitments to the amended facility increased from $821.3 million to $945.0 million. In addition, the amended facility’s final maturity was extended from October 2, 2020 to December 22, 2021 for $885.0 million of commitments. The stated interest rate on the amended facility remains at LIBOR plus 1.75% or LIBOR plus 2.00%, depending on minimum borrowing capacity and taking into account outstanding debt. As of date, the stated interest rate on the amended facility is LIBOR plus 2.00%. The amended facility continues to include the accordion feature, which would allow the Company, under certain circumstances, to increase the size of the amended facility to a maximum of $1.25 billion.
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).
SIXTH STREET SPECIALTY LENDING, INC. 
