GC Investment readies for $502.5 million Golub Capital Partners CLO 16 transaction

By Cristal Cody

Tupelo, Miss., July 11 - CLO manager GC Investment Management LLC expects to be in the market with a $502.5 million collateralized loan obligation offering of notes due July 22, 2024, according to market sources.

Golub Capital Partners CLO 16, Ltd. intends to sell $275 million of class A senior secured floating-rate notes (Aaa); $50 million of class B senior secured floating-rate notes (Aa2); $45 million of class C mezzanine secured deferrable floating-rate notes (A2) and $132.5 million of subordinated notes.

Wells Fargo Securities, LLC is the underwriter.

The CLO has a three-year reinvestment period.

The notes are backed by small and medium enterprise and broadly syndicated loans.

At closing, the portfolio is expected to be about 83% ramped and 100% ramped within three months.

The deal is expected to close on Aug. 6.

© 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.