debt
confidence high
sentiment neutral
materiality 0.65
HPS Corporate Lending Fund issues $900M in notes; net proceeds $889.1M
HPS Corporate Lending Fund
- Issued $400M of 5.300% notes due 2027 and $500M of 5.850% notes due 2030.
- Net proceeds of $889.1M after discounts and expenses.
- Entered interest rate swaps to convert fixed to floating: 3-month Term SOFR plus spread.
- Proceeds to fund investments, reduce borrowings, and general corporate purposes.
- Registration rights agreements require exchange offer or shelf registration with potential additional interest.
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