Chicago, Feb. 9 – Blackstone Liquid Credit Strategies LLC sold $401.82 million in a static collateralized loan obligation issued by Stratus CLO 2021-3, Ltd., according to a notice.
The notes will mature on Dec. 29, 2029.
The CLO consists of $272 million of class A floating-rate notes at Libor plus 95 basis points, $48 million of class B floating-rate notes at Libor plus 155 bps, $24 million of class C floating-rate notes at Libor plus 205 bps, $15 million of class D floating-rate notes at Libor plus 260 bps, $13 million of class E floating-rate notes at Libor plus 575 bps, $4 million of class F floating-rate notes at Libor plus 770 bps and $25.815 million of subordinated notes.
Blackstone Liquid Credit Strategies LLC will manage the portfolio of first-lien senior secured leveraged loans backing the notes. There is no reinvestment period, though.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Stratus CLO 2021-3, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $401.815 million
|
| Maturity: | Dec. 29, 2029
|
| Structure: | Cash flow CLO
|
| Manager: | Blackstone Liquid Credit Strategies LLC
|
| Settlement date: | Dec. 29
|
|
|
| Class A notes
|
| Amount: | $272 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 95 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $13 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 575 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class F notes
|
| Amount: | $4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 770 bps
|
| Rating: | Fitch: BB+
|
|
|
| Subordinated notes
|
| Amount: | $25.815 million
|
| Securities: | Subordinated notes
|
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