Daily News: October 8, 2015

SunTrust Agents TPG Specialty Lending Revolver Amendment


TPG Specialty Lending announced it has amended and extended its senior secured revolving credit facility with its bank group. Total commitments to the amended facility increased from $781.3 million to $821.3 million. The stated interest rate on the amended facility was changed from LIBOR plus 2.00% to either LIBOR plus 1.75% or LIBOR plus 2.00%, subject to minimum borrowing capacity and taking into account outstanding debt. The final maturity date has been extended from October 17, 2019 to October 2, 2020. 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 $1.25 billion, up from the previous maximum of $956.3 million.

According to related 8-K filings dated February 27, 2014 and October 17, 2014, TPG Specialty Lending’s group of lenders was led by SunTrust Bank as administrative agent and JPMorgan Chase as syndication agent.

New York-based TSLX is a specialty finance company focused on lending to middle-market companies. The company 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. The company has elected to be regulated as a business development company, or a BDC.