Chicago, March 25 – OPAL BSL LLC refinanced and extended for $556.1 million the collateralized loan obligation issued by Golub Capital Partners CLO 50(B)-R, Ltd., according to a press release and a pre-sale report.
The notes will mature on April 20, 2035 and March 17, 2122 for the subordinated notes.
The CLO now consists of $316 million of class A-1-R senior secured floating-rate notes at SOFR plus 137 basis points, $25 million of class A-2-R 3.02% senior secured fixed-rate notes, $16.5 million of class A-J-R senior secured floating-rate notes at SOFR plus 160 bps, $55 million of class B-R senior secured floating-rate notes at SOFR plus 195 bps, $38.5 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 235 bps, $33 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 345 bps, $22 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 710 bps and $50.1 million of subordinated notes.
The original transaction had $270 million of class A floating-rate notes at Libor plus 155 bps and $72 million of class B floating-rate notes at Libor plus 220 bps.
The CLO also initially priced $22.5 million of class C deferrable floating-rate notes at Libor plus 290 bps, $13.5 million of class D-1 deferrable floating-rate notes at Libor plus 330 bps, $13.5 million of class D-2 deferrable floating-rate notes at Libor plus 525 bps, $15.75 million of class E deferrable floating-rate notes at Libor plus 675 bps and $46.35 million of subordinated notes.
OPAL BSL LLC will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured term loans.
J.P. Morgan Securities LLC was the placement agent.
Golub Capital is a New York-based middle market lender.
| Issuer: | Golub Capital Partners CLO 50(B)-R, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $556.1 million
|
| Maturity: | April 20, 2035 and March 17, 2122 for the subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | OPAL BSL LLC
|
| Settlement date: | March 17
|
|
|
| Class A-1-R notes
|
| Amount: | $316 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 137 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2-R notes
|
| Amount: | $25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.02%
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-J-R notes
|
| Amount: | $16.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 160 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-R notes
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| Amount: | $55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C-R notes
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| Amount: | $38.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 235 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-R notes
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| Amount: | $33 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 345 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E-R notes
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| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 710 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
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| Amount: | $50.1 million
|
| Securities: | Subordinated notes
|
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