HPS Corporate Lending Fund subsidiary enters $400 million revolver

By Marisa Wong

Los Angeles, Jan. 18 – HLEND Holdings C, LP, a wholly owned subsidiary of HPS Corporate Lending Fund, entered into a senior secured revolving credit facility on Jan. 12 with U.S. Bank Trust Co., NA as administrative agent and U.S. collateral agent, Blackstone Asset Based Finance Advisors LP as Blackstone Asset Based Finance representative and U.S. Bank NA as U.S. custodian and document custodian. HLEND is borrower, and HPS is equity holder, according to an 8-K filing with the Securities and Exchange Commission.

The initial maximum principal amount under the agreement is $400 million.

Advances under the revolver initially bear interest at term SOFR plus an applicable margin of 295 basis points. On or after the anticipated repayment date of Jan. 11, 2030, the applicable margin on any remaining outstanding advances will be increased by 200 bps.

All amounts outstanding must be repaid by April 12, 2030.

Proceeds may be used to fund portfolio investments by HLEND, to pay fees and expenses and to make distributions to HPS.

HPS is a New York-based fund that seeks to invest primarily in newly originated senior secured debt and debt securities.

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