Sixth Street Lending Partners Issues $750M 6.5% Notes Due 2031

What Happened Sixth Street Lending Partners announced on September 21, 2026 that it entered into a Fifth Supplemental Indenture and issued $750,000,000 aggregate principal amount of 6.500% notes due December 15, 2031. The transaction closed the same day. The Notes are direct unsecured obligations of the Company, offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S (they are not registered under the Securities Act). Interest is 6.500% per year, payable semiannually on June 15 and December 15, beginning December 15, 2026. The Company expects to use net proceeds to pay down amounts on its revolving credit facility and/or subscription facility and for general corporate purposes.

Key Details

• Issuance amount: $750,000,000 of 6.500% notes due December 15, 2031; closed September 21, 2026.
• Interest/payment: 6.500% annual rate, semiannual payments on June 15 and December 15, commencing December 15, 2026.
• Security and redemption: Notes are unsecured; may be redeemed in whole or in part at the Company’s option at the prices in the Fifth Supplemental Indenture.
• Investor protections & registration rights: Indenture includes covenants (including Investment Company Act compliance provisions) and a change-of-control repurchase requirement if a change of control occurs and the Notes are downgraded to below investment grade by Fitch, Moody’s and S&P. A Registration Rights Agreement requires the Company to file and use commercially reasonable efforts to effect an exchange offer or shelf registration (exchange offer to be consummated no later than 365 days after issuance); failure to meet registration deadlines can trigger payment of additional interest to holders.

Why It Matters This filing creates a new, material debt obligation for Sixth Street Lending Partners and provides immediate liquidity that management intends to apply to reduce borrowings under its credit and subscription facilities. The unsecured nature of the Notes and the specified covenants (and change-of-control put) are important features for creditors and investors assessing the company’s credit profile. Because the Notes were sold in private placements (Rule 144A/Reg S) and are currently unregistered, holders’ resale is restricted until the Company completes the required registration or exchange offer; missed registration deadlines can increase interest costs. Investors should watch the company’s use of proceeds, leverage levels, and any future disclosure about registration progress or rating changes.