By Angela McDaniels and Cristal Cody
Tacoma, Wash., March 4 – Sixth Street Lending Partners priced $600 million of 6.5% notes due 2029 (Baa3//BBB-) on Monday, according to a company news release.
The notes priced at a spread of 255 basis points to Treasuries. Initial talk was in the 275 bps area.
The notes are callable at any time at par plus a make-whole premium, if applicable.
BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America Inc. and RBC Capital Markets Corp. were the bookrunners.
The company expects to use the proceeds to pay down outstanding debt under its revolving credit facility and/or its subscription facility.
Sixth Street is a New York specialty finance company focused on lending to upper middle-market companies.
| Issuer: | Sixth Street Lending Partners
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| Amount: | $600 million
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| Issue: | Notes
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| Maturity: | March 11, 2029
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| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America Inc. and RBC Capital Markets Corp.
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| Coupon: | 6.5%
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| Price: | Par
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| Yield: | 6.5%
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| Spread: | Treasuries plus 255 bps
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| Call features: | Make-whole call at any time
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| Pricing date: | March 4
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| Settlement date: | March 11
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| Ratings: | Moody’s: Baa3
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| Fitch: BBB-
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| Price talk: | Treasuries plus 275 bps area
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