TPG increases revolver to $581 million, extends portion to 2019

By Angela McDaniels

Tacoma, Wash., Feb. 28 - TPG Specialty Lending, Inc. amended and restated its senior secured revolving credit facility on Thursday to increase it to $581 million from $420 million, the accordion feature to $956 million and the limit for swingline loans to $100 million, according to an 8-K filing with the Securities and Exchange Commission.

For $545 million of commitments, the company extended the period during which it may make borrowings to Feb. 26, 2018 from June 30, 2017 and the maturity date to Feb. 26, 2019 from July 2, 2018.

Finally, the amendment provides that borrowings under the multicurrency tranche will be available in certain additional currencies.

SunTrust Bank is the administrative agent.

In addition, the company terminated its $100 million senior secured revolving credit facility with Deutsche Bank Trust Co. Americas as administrative agent. The termination was made Thursday and becomes effective Tuesday.

The Deutsche Bank revolver has no outstanding borrowings, and the company did not incur any fees or penalties in conjunction with its termination.

TPG Specialty Lending is a Fort Worth-based specialty finance investment company focused on middle-market lending.

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