Chicago, Dec. 29 – Blackstone Liquid Credit Strategies LLC sold $493.25 million in a collateralized loan obligation issued by Stratus Static CLO 2022-3, Ltd., according to a press release.
The notes will mature on Oct. 20, 2031.
The CLO consists of $330 million of class A floating-rate notes at SOFR plus 215 basis points, $61.42 million of class B floating-rate notes at SOFR plus 305 bps, $29.25 million of class C floating-rate notes at SOFR plus 400 bps, $25.08 million of class D floating-rate notes at SOFR plus 529 bps, $15.97 million of class E floating-rate notes at SOFR plus 700 bps, $8.29 million of class F floating-rate notes at SOFR plus 978 bps and $23.24 million of subordinated notes.
Blackstone Liquid Credit Strategies LLC will manage the collateral.
There is no reinvestment period. The CLO is static.
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 2022-3, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $493.25 million
|
| Maturity: | Oct. 20, 2031
|
| Structure: | Cash flow CLO
|
| Manager: | Blackstone Liquid Credit Strategies LLC
|
| Settlement date: | Nov. 29
|
|
|
| Class A notes
|
| Amount: | $330 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 215 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $61.42 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 305 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $29.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $25.08 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 529 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $15.97 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 700 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $8.29 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 978 bps
|
| Rating: | Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | $23.24 million
|
| Securities: | Subordinated notes
|
|
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