Chicago, July 14 – Blackstone Liquid Credit Strategies LLC sold $392.4 million in a collateralized loan obligation issued by Stratus Static CLO 2022-2, Ltd., according to a new issue report.
The notes will mature on July 20, 2030.
The CLO consists of $272 million of class A floating-rate notes at SOFR plus 190 basis points, $43.4 million of class B floating-rate notes at SOFR plus 270 bps, $22.9 million of class C floating-rate notes at SOFR plus 400 bps, $20.7 million of class D floating-rate notes at SOFR plus 490 bps, $12.2 million of class E floating-rate notes at SOFR plus 765 bps, $4.8 million of class F floating-rate notes at SOFR plus 919 bps and $16.4 million of subordinated notes.
Blackstone Liquid Credit Strategies LLC is the manager.
There is no reinvestment period for the static CLO.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Stratus Static CLO 2022-2, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $392.4 million
|
| Maturity: | July 20, 2030
|
| Structure: | Cash flow CLO
|
| Manager: | Blackstone Liquid Credit Strategies LLC
|
| Settlement date: | July 14
|
|
|
| Class A notes
|
| Amount: | $272 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $43.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22.9 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $20.7 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 490 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $12.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 765 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $4.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 919 bps
|
| Rating: | Fitch: B+
|
|
|
| Subordinated notes
|
| Amount: | $16.4 million
|
| Securities: | Subordinated notes
|
|
|
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