Sixth Street Specialty Lending drops on pricing stock offering

Sixth Street Specialty Lending

11/05/2023 14:12

** Sixth Street Specialty Lending Inc's  TSLX.N  shares down
5.8% at $17.37 before the bell as co raises equity
    ** Business development co sells 4.5 mln shares, raises
$79.2 mln
    ** Offering prices at $17.60, 4.5% discount to stock's last
close
    ** Sixth Street plans to use net offering proceeds to pay
down debt under credit facility, re-borrow to make new
investments
    ** Prior to offering, co had ~81.75 mln shares outstanding
for $1.5 bln market cap
    ** Sixth Street last month committed $240 mln in
debtor-in-possession financing to Bed Bath & Beyond as home
goods retailer filed for bankruptcy
    ** TSLX up 4% YTD through Weds close, but off 14% over the
past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))