FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

TPG Specialty Lending Amends and Extends Credit Facility

Date: Oct 27, 2014 @ 07:18 AM
Filed Under: Industry News

TPG Specialty Lending, Inc. (TSL) 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.

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.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.