By Cristal Cody
Tupelo, Miss., June 18 – Golub Capital affiliate GS Investment Management LLC priced $805.5 million of loans and notes in the Golub Capital Partners CLO 44(M) Ltd./Golub Capital Partners CLO 44(M) LLC transaction, according to market sources.
The CLO sold $317 million of class A-1 floating-rate notes at Libor plus 167 basis points, $100 million of class A-1 loans at Libor plus 167 bps, $27 million of class A-2-A floating-rate notes at Libor plus 190 bps and $10 million of 3.84% class A-2-B fixed-rate notes.
Golub also priced $58 million of class B floating-rate notes at Libor plus 240 bps, $89 million of class C deferrable floating-rate notes at Libor plus 345 bps, $49 million of class D deferrable floating-rate notes at Libor plus 350 bps and $155.5 million of subordinated notes.
The loans and floating- and fixed-rate notes are due June 21, 2031. The equity tranche has a maturity of June 21, 2119.
Natixis Securities Americas LLC was the placement agent.
GS Investment Management will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
The offering is collateralized primarily by middle-market senior secured term loans.
Golub Capital is a New York-based middle market lender.
Issuer: | Golub Capital Partners CLO 44(M) Ltd./Golub Capital Partners CLO 44(M) LLC
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Amount: | $805.5 million
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Securities: | Loans and fixed-rate, floating-rate and subordinated notes
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Structure: | Middle-market CLO
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Placement agent: | Natixis Securities Americas LLC
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Manager: | GS Investment Management LLC
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Call feature: | Two years
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Pricing date: | June 7
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Settlement date: | June 21
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Distribution: | Rule 144A and Regulation S
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Class A-1 notes
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Amount: | $317 million
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Securities: | Floating-rate notes
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Maturity: | June 21, 2031
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Coupon: | Libor plus 167 bps
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Rating: | S&P: AAA
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Class A-1 loans
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Amount: | $100 million
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Securities: | Loans
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Maturity: | June 21, 2031
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Coupon: | Libor plus 167 bps
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Rating: | S&P: AAA
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Class A-2-A notes
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Amount: | $27 million
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Securities: | Floating-rate notes
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Maturity: | June 21, 2031
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Coupon: | Libor plus 190 bps
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Rating: | S&P: AAA
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Class A-2-B notes
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Amount: | $10 million
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Securities: | Fixed-rate notes
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Maturity: | June 21, 2031
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Coupon: | 3.84%
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Rating: | S&P: AAA
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Class B notes
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Amount: | $58 million
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Securities: | Floating-rate notes
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Maturity: | June 21, 2031
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Coupon: | Libor plus 240 bps
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Rating: | S&P: AA
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Class C notes
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Amount: | $89 million
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Securities: | Deferrable floating-rate notes
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Maturity: | June 21, 2031
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Coupon: | Libor plus 345 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $49 million
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Securities: | Deferrable floating-rate notes
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Maturity: | June 21, 2031
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Coupon: | Libor plus 350 bps
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Rating: | S&P: BBB-
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Equity
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Amount: | $155.5 million
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Securities: | Subordinated notes
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Maturity: | June 21, 2119
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Ratings: | Non-rated
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