Chicago, March 18 – Blackstone Liquid Credit Strategies LLC sold $412.3 million in a collateralized loan obligation being issued by Belmont Park CLO Ltd./Belmont Park CLO LLC, according to a presale report.
The notes will mature on April 15, 2037.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 150 basis points, $8 million of class A-2 senior secured floating-rate notes at SOFR plus 167 bps, $56 million of class B senior secured floating-rate notes at SOFR plus 200 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 240 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 360 bps, $15.4 million of class E senior secured deferrable floating-rate notes at SOFR plus 675 bps and $44.9 million of subordinated notes.
Blackstone Liquid Credit Strategies LLC will manage the collateral through the end of the reinvestment period on April 15, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 15, 2026.
BNP Paribas Securities Corp. was the placement agent.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Belmont Park CLO Ltd./Belmont Park CLO LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $412.3 million
|
| Maturity: | April 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Blackstone Liquid Credit Strategies LLC
|
| Call feature: | April 15, 2026
|
| Pricing date: | March 13
|
| Settlement date: | March 26
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 167 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $15.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 675 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $44.9 million
|
| Securities: | Subordinated notes
|
|
|
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