Sixth Street Specialty Lending details Q2 2022 portfolio marks and capital position

Sixth Street Specialty Lending, Inc.

Unrealized losses of ~$0.66/share in Q2: $0.40 from market spread widening, $0.26 from equity valuations.
First lien investments now 91.5% of portfolio on cost; cyclical exposure cut to 2.9% on cost.
Pro forma leverage 1.04x after convertible note settlement; issued 4.36M shares, accreted NAV ~$0.08/share.
Non-accruals remain minimal at <0.01% of portfolio at fair value; 98.2% rated 1 or 2.
Stock buyback program active at below 1.05x NAV per share ($17.08) since IPO.

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