Sixth Street Specialty Lending Q2 2024 10-Q Filed

TL;DR

TSLX 10-Q is in: Unrealized/realized gains & losses on investments detailed. Check it.

AI Summary

Sixth Street Specialty Lending, Inc. (TSLX) filed its 10-Q for the period ending June 30, 2024. The company reported a net change in unrealized gains and losses on investments and foreign currency translation, as well as net realized gains and losses on investments and foreign currency translation. Specific details on these financial movements are available via links within the filing.

Why It Matters

This filing provides investors with an update on the financial performance and investment activities of Sixth Street Specialty Lending, Inc., crucial for understanding its current market position and future outlook.

Risk Assessment

Risk Level: medium — The filing details financial performance and investment activities, which inherently carry market and credit risks.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20240731 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Sixth Street Specialty Lending, Inc. (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240731 (date) — Filing Date
• TPG Specialty Lending, Inc. (company) — Former Company Name
• ForeScout Technologies, Inc. (company) — Investment Mentioned

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share TSLX The New York Stock E

Filing Documents

• tslx-20240630.htm (10-Q) — 8289KB
• tslx-ex10_1.htm (EX-10.1) — 2038KB
• tslx-ex31_1.htm (EX-31.1) — 15KB
• tslx-ex31_2.htm (EX-31.2) — 15KB
• tslx-ex32.htm (EX-32) — 12KB
• 0000950170-24-088524.txt ( ) — 37346KB
• tslx-20240630.xsd (EX-101.SCH) — 1653KB
• tslx-20240630_htm.xml (XML) — 8520KB

Financial Statements

Financial Statements 4 Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 4 Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 (Unaudited) 5 Consolidated Schedules of Investments as of June 30, 2024 (Unaudited) and December 31, 2023 6 Consolidated Statements of Changes in Net Assets for the three and six months ended June 30, 2024 and 2023 (Unaudited) 21 Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (Unaudited) 22

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 23 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 46 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 66 Item 4.

Controls and Procedures

Controls and Procedures 67 PART II. OTHER INFORMATION 68 Item 1.

Legal Proceedings

Legal Proceedings 68 Item 1A.

Risk Factors

Risk Factors 68 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 68 Item 3. Defaults Upon Senior Securities 68 Item 4. Mine Safety Disclosures 68 Item 5. Other Information 68 Item 6. Exhibits 69

SIGNATURES

SIGNATURES 70 2 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about us, our current and prospective portfolio investments, our industry, our beliefs, and our assumptions. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "would," "should," "targets," "projects," and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict, that could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. In addition to factors previously identified elsewhere in the reports and other documents Sixth Street Specialty Lending, Inc. (the "Company", "we", "us", or "our") has filed with the Securities and Exchange Commission, or SEC, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: an economic downturn, which could impair our portfolio companies' abilities to continue to operate, and could lead to the loss of some or all of our investments in those portfolio companies; such an economic downturn could disproportionately impact the companies in which we have invested and others that we intend to target for investment, potentially causing us to experience a decrease in investment opportunities and diminished demand for capital from these companies; such an economic downturn could also impact availability and pricing of our financing; an inability to access the capital markets could impair our ability to raise capital and ou

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements Sixth Street Specialty Lending, Inc. Consolidated Ba lance Sheets (Amounts in thousands, except share and per share amounts) (Unaudited) June 30, December 31, 2024 2023 Assets Investments at fair value Non-controlled, non-affiliated investments (amortized cost of $ 3,221,394 and $ 3,172,853 , respectively) $ 3,254,527 $ 3,223,152 Controlled, affiliated investments (amortized cost of $ 83,169 and $ 78,159 , respectively) 62,542 59,913 Total investments at fair value (amortized cost of $ 3,304,563 and $ 3,251,012 , respectively) 3,317,069 3,283,065 Cash and cash equivalents (restricted cash of $ 29,527 and $ 23,979 , respectively) 34,649 25,196 Interest receivable 30,738 27,969 Prepaid expenses and other assets 4,495 7,578 Total Assets $ 3,386,951 $ 3,343,808 Liabilities Debt (net of deferred financing costs of $ 27,262 and $ 21,930 , respectively) $ 1,712,905 $ 1,780,307 Management fees payable to affiliate 12,468 11,962 Incentive fees on net investment income payable to affiliate 11,414 11,451 Incentive fees on net capital gains accrued to affiliate 8,266 10,446 Other payables to affiliate 4,584 2,802 Other liabilities 38,279 30,465 Total Liabilities 1,787,916 1,847,433 Commitments and contingencies (Note 8) Net Assets Preferred stock, $ 0.01 par value; 100,000,000 shares authorized; no shares issued and outstanding — — Common stock, $ 0.01 par value; 400,000,000 shares authorized, 93,681,455 and 88,493,749 shares issued, respectively; and 93,017,205 and 87,829,499 shares outstanding, respectively 937 885 Additional paid-in capital 1,510,345 1,405,173 Treasury stock at cost; 664,250 and 664,250 shares held, respectively ( 10,459 ) ( 10,459 ) Distributable earnings 98,212 100,776 Total Net Assets 1,599,035 1,496,375 Total Liabilities and Net Assets $ 3,386,951 $ 3,34

View Full Filing

View this 10-Q filing on SEC EDGAR