CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

TPG Specialty Lending (TSLX)

BDC - Debt Focused

Data as of Feb. 24, 2017
Current
Market Price $19.49 (- $0.18)
NAV (Dec. 31, 2016) $15.95 ( $0.00)
Premium / Discount 22.19% (-1.13%)
Fund Info
Inception March 20, 2014
Sponsor TSL Advisers
Website www.tpgspecialtylendin...
Phone 415.486.5939
Objective: Current income primarily through direct originations of senior secured loans and, to a lesser extent, originations of mezzanine loans and investments in corporate bonds and equity securities.
Related Indexes
Debt-Focused Business Development Company (BDC) Index
60/40 Balanced (w/ BDCs) Index
Taxable Bond & BDC Index
Capital & Leverage
Outstanding Shares 59,839,041
Gross Assets $1,675M
Net Assets $954M
Market Cap $1,166M
Debt-to-Equity 0.7149
Total Leverage 40.63%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 9.76%
Non Lev Exp Ratio 7.02%
Gross Asset Expense Ratio 5.17%
Gross Asset Non Lev Exp Ratio 3.72%
Rel Lev Cost 3.57%
Discount Data
Average Discount (3 Yr) %
Discount Low(3 Yr) 0.00%
Discount High(3 Yr) 54.09%
Discount Rel Range 41.03%
Comp Discount 22.23
Discount St Dev (1Yr) 4.56
Z-Stat
Z-Stat (6mo) 1.99
Z-Stat (1Yr) 1.99
Z-Stat (3Yr)
Comp Z-Stat (6mo) 0.71
Comp Z-Stat (3Yr)
Distribution Data
Market Yield 8.00%
Income Yield 8.00%
Lev Adj NAV Yield 6.95%
Distribution Frequency Q
Current Distribution $0.390
Current Income $0.390
Ex-Date 3/29/17
Payable Date 4/28/17
Div Growth (3yr) 2.63%
Dividend Change 2.6% on 11/3/14
Expected Div 2/24/17
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (M) $4,898
Avg Volume 30 day 260,950
Avg Volume 90 day 251,303
Volume Trend 3.84%
Comp Volume Trend 4.76%
Correlation & Volatility
Price St Dev (1Yr) 14.3%
NAV St Dev (1Yr) 3.4%
Earnings
Earnings / Share (12/31/16) $0.470
Earn Coverage 120.52%
1 Yr Avg NII Coverage 116.06%
1 Yr Avg Adj Core NII Coverage 116.06%
NII Trend 0.08%
Adj Core NII Trend 0.08%
Loan Specific Data
Maturity 3.35
Performance
Price Beta (2yr)
vs. S&P 500 (TR)
0.47
Portfolio Data
Avg Libor Floor % %
% Loans with Libor Floor 0%

DISCLOSURES:

CEFData.com makes data for the universe of closed-end funds (CEFs) and business development companies (BDCs) available to its users. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. This site does not list all the risks associated with each fund. Investors should contact a fund’s sponsor for fund-specific risk information and/or contact a financial advisor before investing.

NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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