SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 31, 2023
HPS CORPORATE LENDING FUND
(Exact name of Registrant as specified in Its Charter)
|DELAWARE|| ||814-01431|| ||84-6391045|
(State or other jurisdiction
40 West 57th Street, 33rd Floor
New York, New York
|(Address of Principal Executive Offices)|| ||(Zip Code)|
Registrant’s telephone number, including area code: (212) 287-4900
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act: None
|Title of each class|| |
Name of each exchange
on which registered
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
January 2023 Distributions
As previously disclosed, on January 19, 2023, HPS Corporate Lending Fund (the "Fund") announced the increase of its regular monthly distribution, effective with the January 2023 monthly distribution, from $0.1464 per share to $0.1600 per share. Accordingly, on January 19, 2023, the Fund declared regular distributions for each class of its common shares of beneficial interest (the “Shares”) in the amounts per share set forth below:
| ||Gross Distribution||Shareholder Servicing and/or Distribution Fee||Net Distribution|
|Class I Common Shares||$||0.1600 ||$||— ||$||0.1600 |
|Class D Common Shares||$||0.1600 ||$||0.0051 ||$||0.1549 |
|Class F Common Shares||$||0.1600 ||$||0.0101 ||$||0.1499 |
The regular distributions for each class of Shares are payable to shareholders of record as of January 31, 2023 and will be paid on or about February 28, 2023.
Additionally, on January 19, 2023, the Fund declared variable supplemental distributions for each class of its Shares in the amount of $0.0210 per share. The variable supplemental distributions for each class of Shares are payable to shareholders of record as of January 31, 2023 and will be paid on or about February 28, 2023.
These distributions will be paid in cash or reinvested in additional Shares for shareholders participating in the Fund’s distribution reinvestment plan.
Item 8.01. Other Events.
Net Asset Value
The net asset value ("NAV") per share for each class of the Fund as of December 31, 2022, as determined in accordance with the Fund’s valuation policy, is set forth below.
NAV per share as of December 31, 2022
|Class I Common Shares||$||23.88 |
|Class D Common Shares||$||23.88 |
|Class F Common Shares||$||23.88 |
As of December 31, 2022, the Fund’s aggregate NAV was $3,455.3 million, the fair value of its investment portfolio was $5,716.5 million and it had principal debt outstanding of $2,344.6 million, resulting in a debt-to-equity ratio of approximately 0.68 times.
Status of Offering
The Fund is currently publicly offering on a continuous basis up to $4.0 billion in Shares (the “Offering”). The following table lists the Shares and total consideration for the Offering as of the date of this filing (through the January 1, 2023 subscription date). The Fund intends to continue selling Shares in the Offering on a monthly basis.
*Amounts may not sum due to rounding.
| ||Common Shares Issued||Total Consideration|
|Class I Common Shares||34,602,540 ||$||0.9 ||billion|
|Class D Common Shares||17,705,787 ||$||0.4 ||billion|
|Class F Common Shares||92,347,840 ||$||2.3 ||billion|
|Total Offering*||144,656,167 ||$||3.6 ||billion|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|HPS CORPORATE LENDING FUND|
Date: February 3, 2023
/s/ Yoohyun K. Choi
Yoohyun K. Choi