10-Q Filing

SIXTH STREET LENDING PARTNERS CIK: 1925309 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-038548`
Period End Date	20230630
Filing Date	20230804
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	ck0001925309-20230630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 51 Cash Flow Statement 35

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Deferred financing costs	`DeferredFinanceCostsNet`	$3.91M	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNet`	$10.22M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common shares, issued	`CommonStockSharesIssued`	21.88M	shares	Point-in-time
Common shares, issued	`CommonStockSharesIssued`	34.70M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$288.20M	USD	Point-in-time
Common shares, outstanding	`CommonStockSharesOutstanding`	34.70M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$274.61M	USD	Point-in-time
Common shares, outstanding	`CommonStockSharesOutstanding`	21.88M	shares	Point-in-time
Interest receivable	`InterestReceivable`	$14.62M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$7.81M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$485.00K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$1.69M	USD	Point-in-time
Total Assets	`Assets`	$2.06B	USD	Point-in-time
Total Assets	`Assets`	$1.09B	USD	Point-in-time
Debt (net of deferred financing costs of $10,222 and $3,911, respectively)	`LongTermDebt`	$534.08M	USD	Point-in-time
Debt (net of deferred financing costs of $10,222 and $3,911, respectively)	`LongTermDebt`	$1.11B	USD	Point-in-time
Management fees payable to affiliate	`ManagementFeePayable`	$1.99M	USD	Point-in-time
Management fees payable to affiliate	`ManagementFeePayable`	$650.00K	USD	Point-in-time
Incentive fees on net investment income payable to affiliate	`IncentiveFeesOnNetInvestmentIncomePayableToAffiliate`	$4.64M	USD	Point-in-time
Incentive fees on net investment income payable to affiliate	`IncentiveFeesOnNetInvestmentIncomePayableToAffiliate`	$1.03M	USD	Point-in-time
Incentive fees on net capital gains accrued to affiliate	`IncentiveFeesOnNetCapitalGainsAccruedToAffiliate`	$1.47M	USD	Point-in-time
Other payables to affiliate	`OtherPayablesToAffiliate`	$4.06M	USD	Point-in-time
Other payables to affiliate	`OtherPayablesToAffiliate`	$2.08M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$23.25M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$5.18M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$13.23M	USD	Point-in-time
Total Liabilities	`Liabilities`	$545.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.16B	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common shares, $0.001 par value; unlimited shares authorized, 34,695,429 and 21,882,028 shares issued and outstanding, respectively	`CommonStockValue`	$22.00K	USD	Point-in-time
Common shares, $0.001 par value; unlimited shares authorized, 34,695,429 and 21,882,028 shares issued and outstanding, respectively	`CommonStockValue`	$35.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$542.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$877.15M	USD	Point-in-time
Distributable earnings	`RetainedEarningsAccumulatedDeficit`	$4.09M	USD	Point-in-time
Distributable earnings	`RetainedEarningsAccumulatedDeficit`	$29.29M	USD	Point-in-time
Total Net Assets	`AssetsNet`	$-906.47M	USD	Point-in-time
Total Net Assets	`AssetsNet`	$-546.71M	USD	Point-in-time
Total Liabilities and Net Assets	`LiabilitiesAndStockholdersEquity`	$2.06B	USD	Point-in-time
Total Liabilities and Net Assets	`LiabilitiesAndStockholdersEquity`	$1.09B	USD	Point-in-time
Net Asset Value Per Share	`NetAssetValuePerShare`	$24.98	USD	Point-in-time
Net Asset Value Per Share	`NetAssetValuePerShare`	$26.13	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
Interest	`InterestExpense`	$25.25M	USD	2 Qtrs
Interest	`InterestExpense`	$16.39M	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$5.63M	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$9.52M	USD	2 Qtrs
Incentive fees on net investment income	`IncentiveFeesOnNetInvestmentIncome`	$7.00M	USD	2 Qtrs
Incentive fees on net investment income	`IncentiveFeesOnNetInvestmentIncome`	$4.64M	USD	1 Quarter
Incentive fees on net capital gains	`IncentiveFeesOnNetCapitalGains`	$51.00K	USD	1 Quarter
Incentive fees on net capital gains	`IncentiveFeesOnNetCapitalGains`	$1.47M	USD	2 Qtrs
Organizational expense	`OrganizationalFees`	$49.00K	USD	2 Qtrs
Offering expense	`OfferingFees`	$283.00K	USD	2 Qtrs
Offering expense	`OfferingFees`	$234.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$681.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$1.30M	USD	2 Qtrs
Trustees' fees	`TrusteeFees`	$143.00K	USD	1 Quarter
Trustees' fees	`TrusteeFees`	$293.00K	USD	2 Qtrs
Other general and administrative	`OtherGeneralAndAdministrativeExpense`	$837.00K	USD	1 Quarter
Other general and administrative	`OtherGeneralAndAdministrativeExpense`	$1.61M	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$28.61M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$46.77M	USD	2 Qtrs
Management fees waived (Note 3)	`ManagementFeesWaived`	$-6.16M	USD	2 Qtrs
Management fees waived (Note 3)	`ManagementFeesWaived`	$-3.65M	USD	1 Quarter
Net Expenses	`NetExpense`	$24.96M	USD	1 Quarter
Net Expenses	`NetExpense`	$40.61M	USD	2 Qtrs
Net Investment Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$48.20M	USD	2 Qtrs
Net Investment Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$32.83M	USD	1 Quarter
Income taxes, including excise taxes	`IncomeTaxExpenseBenefit`	$664.00K	USD	2 Qtrs
Income taxes, including excise taxes	`IncomeTaxExpenseBenefit`	$404.00K	USD	1 Quarter
Net Investment Income	`NetInvestmentGainLoss`	$47.54M	USD	2 Qtrs
Net Investment Income	`NetInvestmentGainLoss`	$32.42M	USD	1 Quarter
Non-controlled, non-affiliated investments	`UnrealizedGainLossOnInvestments`	$14.63M	USD	2 Qtrs
Translation of other assets and liabilities in foreign currencies	`ForeignCurrencyTransactionGainLossUnrealized`	$-1.16M	USD	2 Qtrs
Translation of other assets and liabilities in foreign currencies	`ForeignCurrencyTransactionGainLossUnrealized`	$-449.00K	USD	1 Quarter
Total net change in unrealized gains (losses)	`NetChangeInUnrealizedGainsLossesOnInvestmentsAndForeignCurrencyTranslation`	$13.47M	USD	2 Qtrs
Total net change in unrealized gains (losses)	`NetChangeInUnrealizedGainsLossesOnInvestmentsAndForeignCurrencyTranslation`	$13.05M	USD	1 Quarter
Total net change in unrealized gains (losses)	`NetChangeInUnrealizedGainsLossesOnInvestmentsAndForeignCurrencyTranslation`	$423.00K	USD	1 Quarter
Foreign currency transactions	`ForeignCurrencyTransactionGainLossRealized`	$-13.00K	USD	1 Quarter
Foreign currency transactions	`ForeignCurrencyTransactionGainLossRealized`	$43.00K	USD	2 Qtrs
Total net realized gains (losses)	`NetChangeInRealizedGainsLossesOnInvestmentsAndForeignCurrencyTranslation`	$43.00K	USD	2 Qtrs
Total net realized gains (losses)	`NetChangeInRealizedGainsLossesOnInvestmentsAndForeignCurrencyTranslation`	$-13.00K	USD	1 Quarter
Total Net Unrealized and Realized Gains (Losses)	`InvestmentCompanyRealizedAndUnrealizedGainLossOnInvestmentAndForeignCurrency`	$410.00K	USD	1 Quarter
Total Net Unrealized and Realized Gains (Losses)	`InvestmentCompanyRealizedAndUnrealizedGainLossOnInvestmentAndForeignCurrency`	$13.51M	USD	2 Qtrs
Increase (Decrease) in Net Assets Resulting from Operations	`NetIncomeLoss`	$61.05M	USD	2 Qtrs
Increase (Decrease) in Net Assets Resulting from Operations	`NetIncomeLoss`	$32.83M	USD	1 Quarter
Loss per common share-basic	`EarningsPerShareBasic`	$1.03	USD	1 Quarter
Loss per common share-basic	`EarningsPerShareBasic`	$2.22	USD	2 Qtrs
Weighted average shares of common shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.47M	shares	2 Qtrs
Weighted average shares of common shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	31.83M	shares	1 Quarter
Loss per common share-diluted	`EarningsPerShareDiluted`	$1.03	USD	1 Quarter
Loss per common share-diluted	`EarningsPerShareDiluted`	$2.22	USD	2 Qtrs
Weighted average shares of common shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.47M	shares	2 Qtrs
Weighted average shares of common shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.83M	shares	1 Quarter

Cash Flow Statement 35 line items

Line Item	Tag	Value	Unit	Period
Increase (Decrease) in net assets resulting from operations	`ProfitLoss`	$61.05M	USD	2 Qtrs
Net change in unrealized (gains) losses on investments	`UnrealizedGainLossOnInvestments`	$14.63M	USD	2 Qtrs
Net change in unrealized (gains) losses on foreign currency transactions	`ForeignCurrencyTransactionGainLossUnrealized`	$-1.16M	USD	2 Qtrs
Net change in unrealized (gains) losses on foreign currency transactions	`ForeignCurrencyTransactionGainLossUnrealized`	$-449.00K	USD	1 Quarter
Net realized (gains) losses on foreign currency transactions	`ForeignCurrencyTransactionGainLossRealized1`	$21.00K	USD	2 Qtrs
Net amortization of discount on investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$5.09M	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$2.27M	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$1.38M	USD	1 Quarter
Purchases and originations of investments, net	`PurchasesAndOriginationsOfInvestmentsNet`	$968.33M	USD	2 Qtrs
Repayments on investments	`RepaymentsOnInvestments`	$-38.74M	USD	2 Qtrs
Paid-in-kind interest	`InterestIncomeOperatingPaidInKind`	$799.00K	USD	2 Qtrs
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$3.84M	USD	2 Qtrs
Interest receivable paid-in-kind	`IncreaseDecreaseInInterestReceivablePaidInKind`	$-2.97M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.20M	USD	2 Qtrs
Management fees payable to affiliate	`IncreaseDecreaseInManagementFeesPayableToAffiliate`	$1.33M	USD	2 Qtrs
Incentive fees on net investment income payable to affiliate	`IncreaseDecreaseInIncentiveFeesOnNetInvestmentIncomePayableToAffiliate`	$-3.61M	USD	2 Qtrs
Incentive fees on net capital gains accrued to affiliate	`IncreaseDecreaseInIncentiveFeesOnNetCapitalGainsAccruedToAffiliate`	$1.47M	USD	2 Qtrs
Other payables to affiliate	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$1.98M	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$8.05M	USD	2 Qtrs
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-881.17M	USD	2 Qtrs
Borrowings on debt	`ProceedsFromShortTermDebt`	$1.47B	USD	2 Qtrs
Repayments on debt	`RepaymentsOfShortTermDebt`	$888.00M	USD	2 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$8.58M	USD	2 Qtrs
Dividends paid to shareholders	`PaymentsOfDividends`	$3.05M	USD	2 Qtrs
Capital calls	`CapitalCall`	$325.00M	USD	2 Qtrs
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$894.76M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.59M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$288.20M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$274.61M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$288.20M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$274.61M	USD	Point-in-time
Interest paid during the period	`InterestPaidNet`	$17.05M	USD	2 Qtrs
Excise and other taxes paid during the period	`ExciseAndOtherTaxesPaidDuringThePeriod`	$384.00K	USD	2 Qtrs
Dividends declared during the period	`DividendsDeclaredDuringThePeriod`	$35.86M	USD	2 Qtrs
Reinvestment of dividends during the period	`ReinvestmentOfDividends`	$9.56M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.