TPG Unit Launches Registered Public Offering of Senior Notes Due 2031
TPG Operating Group II, L.P. plans a registered public offering of senior notes due 2031, fully guaranteed by TPG and certain subsidiaries. Net proceeds will retire revolving credit facility debt and fund general corporate needs.
1. Offering Structure
TPG Operating Group II, L.P., an indirect subsidiary of TPG, will issue senior notes maturing in 2031. The notes are fully and unconditionally guaranteed by TPG and certain of the issuer’s direct subsidiaries.
2. Use of Proceeds
Net proceeds from the offering are earmarked to pay down outstanding debt under the issuer’s revolving credit facility and to support general corporate purposes.
3. Underwriting and Registration
Wells Fargo Securities, BofA Securities and Morgan Stanley serve as joint book-running managers. The offering is made under an automatic shelf registration effective February 27, 2024.
4. Company Profile
TPG is a global alternative asset manager founded in 1992, overseeing $303 billion of assets under management across private equity, credit, real estate, impact and market solutions.