Chicago, Sept. 21 – HPS Corporate Lending Fund sold $429.1 million in a collateralized loan obligation being issued by Hlend CLO 2023-1 LLC, according to a presale report.
The notes will mature on Oct. 22, 2035.
The CLO consists of $246.5 million of class A senior secured floating-rate notes at SOFR plus 260 basis points, $42.5 million of class B senior secured floating-rate notes at SOFR plus 335 bps, $34 million of class C senior secured deferrable floating-rate notes at SOFR plus 415 bps and $106.1 million of subordinated notes.
HPS Corporate Lending Fund will manage the collateral through the end of the reinvestment period on Oct. 22, 2027.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Oct. 22, 2025.
BofA Securities Inc. was the placement agent.
HPS is a New York-based fund that seeks to invest primarily in newly originated senior secured debt and debt securities.
| Issuer: | Hlend CLO 2023-1 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $429.1 million
|
| Maturity: | Oct. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | HPS Corporate Lending Fund
|
| Call feature: | Oct. 22, 2025
|
| Pricing date: | Sept. 19
|
| Settlement date: | Oct. 5
|
|
|
| Class A notes
|
| Amount: | $246.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 260 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $42.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 335 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $34 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 415 bps
|
| Rating: | S&P: A
|
|
|
| Subordinated notes
|
| Amount: | $106.1 million
|
| Securities: | Subordinated notes
|
|
|
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