Sixth Street Specialty Lending to use proceeds for revolver paydown

By Mary-Katherine Stinson

Lexington, Ky., Aug. 7 – Sixth Street Specialty Lending, Inc. will pay down a portion of its outstanding debt under its revolving credit facility with proceeds from a new notes issue, according to a 424B2 filing with the Securities and Exchange Commission.

The company’s revolving facility totaled $1.71 billion in commitments as of June 30.

The maturity dates are staggered with $1.465 billion of commitments due June 12, 2028, $25 million of commitments due Jan. 31, 2025, $50 million of commitments due Feb. 4, 2026 and $170 million of commitments due April 23, 2027.

As of June 30, amounts drawn under the facility bear interest at the applicable reference rate plus a credit spread adjustment, plus a margin of either 175 or 187.5 basis points.

The company stated in the filing that it intends to reborrow under the facility to make new investments.

Sixth Street Specialty Lending is the direct credit investment platform of the global investment firm Sixth Street, which is based in Dallas.

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