Sixth Street Lending Reports New Material Financial Obligation

TL;DR

**Sixth Street Lending just took on a new major financial obligation.**

AI Summary

Sixth Street Specialty Lending, Inc. filed an 8-K on January 16, 2024, to report an "Entry into a Material Definitive Agreement" and the "Creation of a Direct Financial Obligation." This filing indicates that the company has entered into a significant new financial commitment, which could impact its future liquidity and debt levels. For investors, this matters because new financial obligations can affect the company's ability to pay dividends, fund growth, or manage its balance sheet, potentially influencing stock performance.

Why It Matters

This filing signals a new financial commitment for Sixth Street Specialty Lending, Inc., which could alter its financial risk profile and future capital allocation strategies.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation without specifying the amount or terms, creating uncertainty about its potential impact on the company's financial health.

Analyst Insight

Investors should monitor future filings for details on the nature, size, and terms of the new material definitive agreement and financial obligation to assess its impact on Sixth Street Specialty Lending, Inc.'s financial health and dividend capacity.

Key Players & Entities

• Sixth Street Specialty Lending, Inc. (company) — the registrant filing the 8-K
• January 16, 2024 (date) — date of earliest event reported and filing date
• TSLX (company) — trading symbol for Common Stock
• New York Stock Exchange (company) — exchange where TSLX is registered

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share TSLX The New York Stock E
• $350,000,000 — onnection with the issuance and sale of $350,000,000 aggregate principal amount of the Compa

Filing Documents

• d652899d8k.htm (8-K) — 33KB
• d652899dex11.htm (EX-1.1) — 192KB
• d652899dex41.htm (EX-4.1) — 480KB
• d652899dex42.htm (EX-4.2) — 106KB
• d652899dex51.htm (EX-5.1) — 13KB
• 0001193125-24-008558.txt ( ) — 1265KB
• tslx-20240116.xsd (EX-101.SCH) — 5KB
• tslx-20240116_cal.xml (EX-101.CAL) — 1KB
• tslx-20240116_def.xml (EX-101.DEF) — 11KB
• tslx-20240116_lab.xml (EX-101.LAB) — 2KB
• tslx-20240116_pre.xml (EX-101.PRE) — 11KB
• d652899d8k_htm.xml (XML) — 6KB

01—Entry into a Material Definitive Agreement

Item 1.01—Entry into a Material Definitive Agreement On January 16, 2024, Sixth Street Specialty Lending, Inc. (the "Company") and U.S. Bank Trust Company, National Association (the "Trustee"), entered into a First Supplemental Indenture (the "First Supplemental Indenture") to the Indenture, dated as of January 16, 2024, between the Company and the Trustee (the "Base Indenture"; and together with the First Supplemental Indenture, the "Indenture"), relating to the Company's issuance, offer and sale of $ 350,000,000 aggregate principal amount of its 6.125% notes due 2029 (the "Notes"). The Notes will mature on March 1, 2029, and may be redeemed in whole or in part at the Company's option at any time at the redemption prices set forth in the First Supplemental Indenture. The Notes bear interest at a rate of 6.125% per year payable semiannually on March 1 and September 1 of each year, commencing on September 1, 2024. The Notes are direct unsecured obligations of the Company. The Company expects to use the net proceeds of this offering to pay down debt under its revolving credit facility. The Indenture contains certain covenants including covenants requiring the Company to comply with Section 18(a)(1)(A) as modified by Section 61(a) of the Investment Company Act of 1940, as amended, or any successor provisions, but giving effect, in either case, to any exemptive relief granted to the Company by the SEC, and to provide financial information to the holders of the Notes and the Trustee if the Company should no longer be subject to the reporting requirements under the Securities Exchange Act of 1934. These covenants are subject to important limitations and exceptions that are described in the Indenture. In addition, upon the occurrence of a change of control repurchase event (which involves the occurrence of both a change of control and a below investment grade rating of the Notes by Fitch Ratings, Inc., Moody's Investor Service and S&P Global Ratings), the Company will

03—Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance

Item 2.03—Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant The information set forth under Item 1.01 of this Form 8-K is incorporated herein by reference.

01—Financial Statements and Exhibits

Item 8.01—Financial Statements and Exhibits On January 8, 2024, the Company entered into an underwriting agreement (the "Underwriting Agreement") by and among the Company, Sixth Street Specialty Lending Advisers, LLC, (the "Adviser") and BofA Securities, Inc., as representative of the several underwriters named in Schedule 1 thereto (the "Underwriters"), in connection with the issuance and sale of $350,000,000 aggregate principal amount of the Company's 6.125% Notes due 2029 (the "Offering"). The Offering was made pursuant to the Company's effective shelf registration statement on Form N-2 (Registration No. 333-276252) previously filed with the Securities and Exchange Commission, as supplemented by a preliminary prospectus supplement dated January 8, 2024, and a final prospectus supplement dated January 8, 2024. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Underwriting Agreement filed with this report as Exhibit 1.1 and which is incorporated herein by reference.

01—Financial Statements and Exhibits

Item 9.01—Financial Statements and Exhibits (d) Exhibits: Exhibit Number Description 1.1 Underwriting Agreement dated January 8, 2024 by and among Sixth Street Specialty Lending, Inc., Sixth Street Specialty Lending Advisers, LLC and BofA Securities, Inc. as representative of the several underwriters named therein. 4.1 Indenture, dated as of January 16, 2024, between Sixth Street Specialty Lending, Inc. and U.S. Bank Trust Company, National Association, as Trustee 4.2 First Supplemental Indenture, dated as of January 16, 2024, between Sixth Street Specialty Lending, Inc. and U.S. Bank Trust Company, National Association, as Trustee 4.3 Form of 6.125% Note Due 2029 (included as part of Exhibit 4.2) 5.1 Opinion of Simpson Thacher & Bartlett LLP 23.1 Consent of Simpson Thacher & Bartlett LLP (included as part of Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SIXTH STREET SPECIALTY LENDING, INC. (Registrant) Date: January 16, 2024 By: /s/ Ian Simmonds Ian Simmonds Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR