TPG Specialty Lending Plans To Make IPO Of 7.00 Mln Shares - Quick Facts

(RTTNews) - TPG Specialty Lending Inc. announced that it plans to make an initial public offering of 7.00 million shares of its common stock. The company stated that it has applied to list its common stock on the New York Stock Exchange under the symbol TSLX.

The company also plans to grant the underwriters an overallotment option to purchase up to an additional 1.05 million shares of common stock.

Concurrently with the initial public offering, the firms plans to sell $50 million of its common stock to certain existing investors, including TSL Advisers, LLC, the company's investment adviser and administrator, through a separate private placement at the initial public offering price per share.

The company expects to use the net proceeds of this offering, as well as the proceeds of the concurrent private placement, together with cash and cash equivalents, to pay down debt under a revolving credit facility.

J.P. Morgan; BofA Merrill Lynch; Goldman, Sachs & Co.; Citigroup; Wells Fargo Securities and Barclays are acting as joint book-running managers for this offering. TPG Capital BD, LLC; Janney Montgomery Scott and JMP Securities are acting as co-managers.