New Issue: Sixth Street Specialty Lending sells $350 million 6.125% notes due 2029

By Wendy Van Sickle

Columbus, Ohio, Jan. 8 – Sixth Street Specialty Lending, Inc. sold $350 million of 6.125% notes due March 1, 2029 (Baa3/BBB-/BBB) on Monday, according to an FWP filed with the Securities and Exchange Commission.

The notes priced at 99.036 to yield 6.345%, or at a spread of 240 basis points over Treasuries.

BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, HSBC Securities (USA) Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Truist Securities, Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc. are the bookrunners.

The company plans to use proceeds from the new notes to pay down a portion of the outstanding debt on its revolving credit facility. As of Sept. 30, aggregate commitments under the facility were $1.71 billion.

The externally managed, closed-end, non-diversified management investment company is based in Dallas.

Issuer:	Sixth Street Specialty Lending, Inc.
Amount:	$350 million
Issue:	Notes
Maturity:	March 1, 2029
Bookrunners:	BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, HSBC Securities (USA) Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Truist Securities, Inc., Mizuho Securities USA LLC and MUFG Securities Americas Inc.
Co-managers:	Keefe, Bruyette & Woods, Inc., Oppenheimer & Co. Inc., ICBC Standard Bank plc, Raymond James & Associates, Inc., B. Riley Securities, Inc., Citizens JMP Securities, LLC, Hovde Group, LLC, Ladenburg Thalmann & Co. Inc. and R. Seelaus & Co., LLC
Trustee:	U.S. Bank Trust Co., NA
Counsel to issuer:	Simpson Thacher & Bartlett LLP and Morris, Nichols, Arsht & Tunnell LLP
Counsel to underwriters:	Ropes & Gray LLP
Coupon:	6.125%
Price:	99.036
Yield:	6.345%
Spread:	Treasuries plus 240 bps
Call features:	Make-whole call at Treasuries plus 40 bps before Feb. 1, 2029; after at par
Change of control:	At par
Pricing date:	Jan. 8
Settlement date:	Jan. 16
Ratings:	Moody’s: Baa3
	S&P: BBB-
	Fitch: BBB
Cusip:	83012AAC3

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