HPS Corporate Lending Fund 8-K

What Happened

• HPS Corporate Lending Fund announced on April 24, 2026 regular and variable supplemental distributions for each class of its common shares. The gross regular distribution is $0.1600 per share plus a variable supplemental distribution of $0.0470 per share. Total net distributions per share by class are: Class I $0.2070, Class D $0.2019, Class F $0.1968, and Class S $0.1897. Shareholders of record as of April 30, 2026 will receive payments on or about May 29, 2026; payments can be made in cash or reinvested under the Fund’s distribution reinvestment plan.
• The Fund reported its net asset value (NAV) per share as of March 31, 2026 at $24.79 for all share classes. Aggregate NAV was $12,435.0 million, the investment portfolio’s fair value was $25,007.9 million, and principal debt outstanding was $12,947.0 million. The average debt‑to‑equity ratio for March 2026 was approximately 0.99x.
• The Fund is conducting a continuous public Offering of up to $15.0 billion in shares. Through the April 1, 2026 subscription date, the Fund had issued 551,997,514 shares for total consideration of approximately $13.9 billion (Class I: 227,722,453 shares / $5.7B; Class D: 52,469,287 / $1.3B; Class F: 237,316,642 / $5.9B; Class S: 34,489,132 / $0.9B). The Fund intends to continue monthly sales.

Key Details

• Distribution declaration date: April 24, 2026; record date: April 30, 2026; pay date: on or about May 29, 2026.
• Total net distribution per share (including supplemental): Class I $0.2070; Class D $0.2019; Class F $0.1968; Class S $0.1897.
• NAV per share (Mar 31, 2026): $24.79 for all classes; aggregate NAV $12,435.0M; portfolio fair value $25,007.9M; debt outstanding $12,947.0M; avg debt/equity ≈ 0.99x.
• Offering status (through Apr 1, 2026): 551,997,514 shares issued for ~$13.9B of the $15.0B shelf; sales expected to continue monthly.

Why It Matters

• Income: The declared distributions (regular + supplemental) provide expected near‑term cash or reinvestment income for shareholders and are material for income-focused investors.
• Valuation & leverage: NAV per share and the roughly 1.0x debt‑to‑equity ratio give investors a snapshot of the Fund’s net asset backing and leverage level as of March 31, 2026.
• Capital raising: With about $13.9B issued of a $15.0B continuous offering, the Fund is close to its shelf amount; continued issuance can affect share supply and future capital availability.