Raytheon awarded $71 million in Navy contracts for missile systems
Sixth Street Specialty Lending, Inc. (NYSE:TSLX), a specialty finance company with a market capitalization of $2.12 billion, has amended its senior secured revolving credit facility, the company disclosed in a recent SEC filing. The amendment, effective as of Monday, extends the revolving period and increases the facility’s potential size. According to InvestingPro data, the company maintains strong financial health with liquid assets exceeding short-term obligations.
The Dallas-based company, which operates within the specialty finance sector and boasts a robust 10.14% revenue growth over the last twelve months, announced the sixteenth amendment to its second amended and restated senior secured revolving credit facility, originally dated February 27, 2014. This amendment extends the termination of the revolving period on $1.525 billion of commitments to March 2, 2029, with the stated maturity date now set for March 4, 2030.
Additionally, the amendment raises the uncommitted accordion feature, which allows Sixth Street Specialty Lending to increase the size of the facility under certain conditions. Previously capped at $2.0 billion, the facility can now potentially expand to $2.5 billion.
The company has stated that the full details of the amended Revolving Credit Facility will be included in its next Quarterly Report on Form 10-Q.
This strategic financial move comes as Sixth Street Specialty Lending continues to navigate the dynamic lending environment. The expanded credit facility provides the company with increased flexibility to pursue its business objectives. With a current ratio of 1.9 and a consistent track record of paying dividends for 12 consecutive years, yielding 9.37%, the company demonstrates strong financial discipline. For detailed analysis and additional insights, visit InvestingPro, where you’ll find comprehensive research reports and more exclusive financial metrics.
The information for this report is based on a press release statement.
In other recent news, Sixth Street Specialty Lending, Inc. has announced the issuance of $300 million in notes due in 2030, bearing an interest rate of 5.625%. The proceeds from this offering are intended to pay down existing debt under the company’s revolving credit facility, with plans to re-borrow for new investments. The notes can be redeemed at any time at the company’s discretion, and the offering is managed by a consortium of financial institutions, including BofA Securities and J.P. Morgan. Additionally, Moody’s Ratings has upgraded Sixth Street Specialty Lending’s long-term issuer and senior unsecured ratings from Baa3 to Baa2, citing strong profitability and a well-managed portfolio. The company has been recognized for its robust capitalization and disciplined investment strategy, which has resulted in superior profitability compared to its peers. Furthermore, Raymond (NSE:RYMD) James has raised its price target for Sixth Street Specialty Lending from $22.50 to $24.00, maintaining an Outperform rating based on the company’s strong credit profile and diverse investment pipeline. These developments reflect the company’s strategic financial management and its ability to maintain a stable outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.