Daily News: March 27, 2014

TPG Specialty Lending Closes IPO

TPG Specialty Lending announced that it closed its initial public offering of 7,000,000 shares of its common stock that began trading on the NYSE on March 21, 2014, under the symbol TSLX.

Concurrently with the initial public offering, TSL sold $50 million of its common stock to certain existing investors, including TSL Advisers, the company’s investment adviser and administrator, through a separate private placement at the initial public offering price per share.

J.P. Morgan, BofA Merrill Lynch, Goldman Sachs, Citigroup, Wells Fargo Securities and Barclays acted as joint book-running managers for the public offering. TPG Capital BD, Janney Montgomery Scott and JMP Securities acted as co-managers.

TSL also announced that its Board of Directors has declared a first quarter 2014 dividend of $0.38 per share, payable on or about April 30, 2014 to stockholders of record at the close of business on March 31, 2014.

TSL is a specialty finance company focused on lending to middle-market companies. Since TSL began its investment activities in July 2011, it has originated more than $2.6 billion aggregate principal amount of investments and retained more than $1.7 billion aggregate principal amount of these investments on its balance sheet prior to any subsequent exits and repayments.

previously on abfjournal: