HPS Corporate Lending Fund (HLEND) disclosed details regarding its third quarter 2026 tender offer in a filing dated September 11, 2026. The Fund plans to repurchase 5.0% of its shares outstanding as of June 30, 2026, with a target value of approximately $600 million.
According to the filing, repurchase requests received during the third quarter totaled approximately 11.5% of shares outstanding as of June 30, 2026. This figure represents a decrease from the approximately 13.3% of shares outstanding that were tendered in the second quarter of 2026.
The Fund reported that since inception through July 31, 2026, Class I shareholders have generated an annualized total net return of 9.9%. This figure represents a 3.5% premium over the total returns of broadly syndicated loans over the same period. As of August 2026, the annualized distribution rate for Class I shareholders was 9.8%.
The Fund’s portfolio remains highly diversified, with investments held across 359 companies and 53 industries as of June 30, 2026. Approximately 95% of the portfolio is invested in first-lien senior secured loans, with a weighted average loan-to-value ratio of 39%. The portfolio focuses on larger, established companies with a weighted average EBITDA of approximately $262 million.
Underlying performance metrics for portfolio companies were strong over the twelve months ended June 30, 2026, with revenue growing by 12.4% and EBITDA growing by 14.1%. The weighted average interest coverage ratio remained healthy at 2.3x.
The Fund indicated that it has repurchased shares with an aggregate value of approximately $1.7 billion across the three repurchase periods ending June 30, 2026. During this time, leverage was kept essentially stable at the low end of its target range, and the Fund maintained substantial available liquidity.
