debt
confidence high
sentiment neutral
materiality 0.50
North Haven Private Income Fund issues $300M 5.125% notes due 2028
North Haven Private Income Fund LLC
- $300M aggregate principal of 5.125% notes due Sept 25, 2028; interest payable semi-annually.
- Net proceeds ~$294.6M after initial purchaser discount and offering expenses.
- Proceeds to repay indebtedness, make investments, and for general corporate purposes.
- Entered interest rate swaps: receives 5.383% fixed, pays SOFR + 2.0585% floating on $300M.
- Notes unsecured, rank pari passu with future unsecured unsubordinated debt, junior to secured debt.
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