Chicago, April 16 – PineBridge Investments LLC priced for $352.5 million the collateralized loan obligation being issued by Galaxy 33 CLO Ltd./Galaxy 33 CLO LLC, according to a presale report.
The notes will mature on April 20, 2037.
The CLO consists of $2 million of class X senior secured floating-rate notes at SOFR plus 110 basis points, $215.25 million of class A-1 senior secured floating-rate notes at SOFR plus 155 bps, $12.25 million of class A-2 senior secured floating-rate notes at SOFR plus 175 bps, $30.5 million of class B-1 senior secured floating-rate notes at SOFR plus 195 bps, $8 million of class B-2 6% senior secured fixed-rate notes, $21 million of class C senior secured deferrable floating-rate notes at SOFR plus 240 bps, $21 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 355 bps, $3.5 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 530 bps, $10.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 665 bps and $28.5 million of subordinated notes.
PineBridge Investments LLC will manage the collateral through the end of the reinvestment period on April 20, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2026.
BofA Securities Inc. was the placement agent.
The asset management firm is based in New York City.
| Issuer: | Galaxy 33 CLO Ltd./Galaxy 33 CLO LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $352.5 million
|
| Maturity: | April 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | PineBridge Investments LLC
|
| Call feature: | April 20, 2026
|
| Pricing date: | April 12
|
| Settlement date: | March 2
|
|
|
| Class X notes
|
| Amount: | $2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 110 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $215.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 155 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $30.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 355 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D-2 notes
|
| Amount: | $3.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 530 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 665 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $28.5 million
|
| Securities: | Subordinated notes
|
|
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