Chicago, Oct. 3 – PineBridge Investments LLC priced $404.7 million in a collateralized loan obligation being issued by Galaxy 32 CLO Ltd./Galaxy 32 CLO LLC, according to a presale report.
The maturity date is Oct. 20, 2036.
The CLO consists of $150 million of class A-L senior secured floating-rate loans at SOFR plus 173 basis points, $102 million of class A-N senior secured floating-rate notes at SOFR plus 173 bps, $52 million of class B senior secured floating-rate notes at SOFR plus 230 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 280 bps, $23.6 million of class D senior secured deferrable floating-rate notes at SOFR plus 430 bps, $12.4 million of class E senior secured deferrable floating-rate notes at SOFR plus 733 bps and $40.7 million of subordinated notes.
PineBridge Investments LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2028.
Collateral for the CLO consists of broadly syndicated speculative-grade senior secured term loans.
The CLO can be called starting Oct. 20, 2025.
Barclays is the placement agent.
The asset management firm is based in New York City.
| Issuer: | Galaxy 32 CLO Ltd./Galaxy 32 CLO LLC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $404.7 million
|
| Maturity: | Oct. 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | PineBridge Investments LLC
|
| Call feature: | Oct. 20, 2025
|
| Pricing date: | Oct. 2
|
| Settlement date: | Nov. 3
|
|
|
| Class A-L loans
|
| Amount: | $150 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 173 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-N notes
|
| Amount: | $102 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 173 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 280 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $23.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 430 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 733 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40.7 million
|
| Securities: | Subordinated notes
|
|
|
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