NEW YORK--(BUSINESS WIRE)--TPG Specialty Lending, Inc. (NYSE:TSLX) (“TSL”) announced today that it has favorably amended and extended its senior secured revolving credit facility (“the amended facility”) with its bank group. The amended facility has a borrowing rate of LIBOR plus 200 basis points, a 25 basis point reduction, with no LIBOR floor, and a final maturity of October 2019, extended from February 2019. Under the terms of the amended facility, the letter of credit sublimit has been increased from $20 million to $100 million. The amended facility continues to include the accordion feature, which would allow the Company, under certain circumstances, to increase the size of the amended facility to a maximum of $956.3 million.
ABOUT TPG SPECIALTY LENDING, INC.
TSL is a specialty finance company focused on lending to middle-market companies. TSL seeks to generate current income primarily in U.S.-domiciled middle-market companies through direct originations of senior secured loans and, to a lesser extent, originations of mezzanine loans and investments in corporate bonds and equity securities. TSL has elected to be regulated as a business development company, or a BDC, under the Investment Company Act of 1940 and the rules and regulations promulgated thereunder. TSL is externally managed by TSL Advisers, LLC, an SEC-registered investment adviser. TSL leverages the deep investment, sector, and operating resources of TPG Special Situations Partners, the dedicated special situations and credit platform of TPG, with over $10 billion of assets under management as of June 30, 2014, and the broader TPG platform, a leading global private investment firm with $66 billion of assets under management. For more information, visit www.tpgspecialtylending.com.
Statements included herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about us, our current and prospective portfolio investments, our industry, our beliefs, and our assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “would,” “should,” “targets,” “projects,” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond TSL’s control and difficult to predict, that could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.
TSL’s filings with the Securities and Exchange Commission, press releases, earnings releases and other financial information are available on its website at www.tpgspecialtylending.com.