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NEW YORK – Sixth Road Specialty Lending, Inc. (NYSE:TSLX), a specialty finance firm, has introduced the pricing of a $350 million public providing of 6.12% notes due on March 1, 2029.
These notes will be redeemed at any time on the firm’s discretion, both in full or partly, at par plus a “make-whole” premium if relevant.
The corporate has said that the online proceeds from the providing will go in the direction of repaying excellent debt underneath its revolving credit score facility. Following this reimbursement, TSLX plans to re-borrow underneath the identical facility to fund new investments in step with its funding targets and methods.
To handle its rate of interest publicity, TSLX additionally intends to enter into an rate of interest swap settlement. This strategic transfer is aimed toward aligning the rates of interest of its liabilities with the predominantly floating price loans that make up its funding portfolio.
A consortium of economic establishments, together with BofA Securities, Goldman Sachs & Co (NYSE:). LLC, J.P. Morgan, and SMBC Nikko, are serving as joint book-running managers for the providing.
Different establishments akin to Morgan Stanley, RBC Capital Markets, and HSBC, amongst others, are additionally taking part as book-running managers. The providing is scheduled to shut on January 16, 2024, topic to customary closing situations.
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