Sixth Street Specialty Lending prices $300 million debt offering

Sixth Street Specialty Lending Inc. (NYSE: TSLX) announced it priced an underwritten public offering of $300 million in aggregate principal amount of 5.650% unsecured notes due 2031.

The notes will mature on August 15, 2031 and may be redeemed in whole or in part at the company's option at any time at par plus a make-whole premium, if applicable, according to the company's statement.

The specialty finance company expects to use net proceeds to pay down outstanding debt under its revolving credit facility and for general corporate purposes, including making new investments. The company intends to make new investments through re-borrowing under the revolving credit facility in accordance with its investment objectives and strategies.

In connection with the offering, TSLX intends to enter into an interest rate swap to align the interest rates of its liabilities with its investment portfolio, which consists predominantly of floating rate loans.

BofA Securities, HSBC, SMBC Nikko and Wells Fargo Securities are serving as joint book-running managers. Additional book-running managers include J.P. Morgan, MUFG, Truist Securities, Mizuho, RBC Capital Markets, Citigroup, Goldman Sachs & Co. LLC and Morgan Stanley. Several firms are acting as co-managers.

The offering is expected to close on May 14, 2026, subject to customary closing conditions.

TSLX is a business development company focused on lending to middle-market companies. The company seeks to generate current income primarily through direct originations of senior secured loans to U.S.-domiciled middle-market companies. It is externally managed by Sixth Street Specialty Lending Advisers LLC and leverages resources from Sixth Street Partners LLC, which has over $130 billion of assets under management and committed capital.

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