Chicago, Jan. 14 – GC Investment Management LLC sold $1 billion in a collateralized loan obligation being issued by Golub Capital Partners CLO 57(M), according to a pre-sale report.
The notes will mature on Oct. 25, 2034.
The CLO consists of $524 million of class A-1 senior secured floating-rate loans at Libor plus 149 basis points, $46 million of class A-1 senior secured floating-rate notes at Libor plus 149 bps, $30 million of class A-2 senior secured floating-rate notes at Libor plus 165 bps, $55 million of class B-1 senior secured floating-rate notes at Libor plus 190 bps, $25 million of class B-2 3.3% senior secured fixed-rate notes, $80 million of class C senior secured deferrable floating-rate notes at Libor plus 255 bps, $60 million of class D senior secured deferrable floating-rate notes at Libor plus 360 bps and $183.45 million of subordinated notes..
GC Investment Management LLC will manage the collateral through the end of the reinvestment period on Dec. 15, 2025.
Collateral comes from middle-market speculative-grade senior secured term loans.
The notes can be called starting Dec. 15, 2023.
Morgan Stanley & Co. LLC was the placement agent.
GC Investment Management is an affiliate of New York-based middle market lender Golub Capital.
| Issuer: | Golub Capital Partners CLO 57(M)
|
| Issue: | Floating-rate loans, floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $1,003,450,000
|
| Maturity: | Oct. 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | GC Investment Management LLC
|
| Call feature: | Dec. 15, 2023
|
| Settlement date: | Dec. 15
|
|
|
| Class A-1 loans
|
| Amount: | $524 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Libor plus 149 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $46 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 149 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $30 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.3%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $80 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 255 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $60 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 360 bps
|
| Rating: | S&P: BBB-
|
|
|
| Subordinated notes
|
| Amount: | $183.45 million
|
| Securities: | Subordinated notes
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
