Sixth Street Lending signs new $600 million secured revolver

By William Gullotti

Buffalo, N.Y., Jan. 24 – Sixth Street Lending Partners entered into a $600 million senior secured revolving credit facility with Truist Bank as administrative agent on Jan. 19, according to an 8-K filing with the Securities and Exchange Commission.

The revolver includes a $400 million uncommitted accordion feature.

The availability period terminates Jan. 19, 2027, with the revolver maturing Jan. 19, 2028.

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

Borrowings bear interest at SOFR, or the relevant rate for an agreed foreign currency, plus a margin of either 175 basis points or 200 bps as determined by borrowing base conditions.

There is a fee on unused commitments of 37.5 bps.

The credit facility is secured by a perfected first priority security interest in substantially all of the portfolio investments held by the company and each guarantor, subject to certain exceptions.

Proceeds may be used for general corporate purposes, including the funding of portfolio investments.

Truist Securities, Inc. and JPMorgan Chase Bank, NA are the joint bookrunners, also acting as joint lead arrangers with Royal Bank of Canada, State Street Bank and Trust Co. and Wells Fargo Bank, NA.

JPMorgan is also the syndication agent.

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

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