Chicago, Dec. 8 – Blackstone CLO Management LLC priced $348.8 million of notes and loans in a collateralized loan obligation being issued by Hartwick Park CLO Ltd./Hartwick Park CLO LLC, according to a presale report.
The CLO will mature on Jan. 21, 2036.
The transaction consists of $172.5 million of class A senior secured floating-rate notes at SOFR plus 163 basis points, $48 million of class A-L senior secured floating-rate loans at SOFR plus 163 bps, $0 million of class A-L senior secured floating-rate notes at SOFR plus 163 bps, $45.5 million of class B senior secured floating-rate notes at SOFR plus 225 bps, $21 million of class C senior secured deferrable floating-rate notes at SOFR plus 275 bps, $21 million of class D senior secured deferrable floating-rate notes at SOFR plus 450 bps, $10.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 684 bps and $30.3 million of subordinated notes.
Blackstone CLO Management LLC will manage the collateral through the end of the reinvestment period on Jan. 21, 2026.
Collateral for the CLO consists of broadly syndicated speculative-grade senior secured term loans.
The CLO can be called starting Dec. 11, 2024.
BNP Paribas Securities Corp. and RBC Capital Markets LLC were the placement agents.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Hartwick Park CLO Ltd./Hartwick Park CLO LLC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $348.8 million
|
| Maturity: | Jan. 21, 2036
|
| Structure: | Cash flow CLO
|
| Placement agents: | BNP Paribas Securities Corp. and RBC Capital Markets LLC
|
| Manager: | Blackstone CLO Management LLC
|
| Call feature: | Dec. 11, 2024
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 11
|
|
|
| Class A notes
|
| Amount: | $172.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 163 bps
|
|
|
| Class A-L loans
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 163 bps
|
|
|
| Class A-L notes
|
| Amount: | $0 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 163 bps
|
|
|
| Class B notes
|
| Amount: | $45.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 450 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 684 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $30.3 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.
