By Cristal Cody
Tupelo, Miss., July 16 – GC Investment Management LLC priced $595.78 million of notes due July 20, 2032 in a new middle-market collateralized loan obligation, according to a market source.
Golub Capital Partners CLO 49(M) Ltd./Golub Capital Partners CLO 49(M) LLC sold $315 million of class A-1 floating-rate notes at Libor plus 250 basis points, $21 million of class A-2 floating-rate notes at Libor plus 285 bps, $42 million of class B floating-rate notes at Libor plus 320 bps, $54 million of class C deferrable floating-rate notes at Libor plus 365 bps and $163.78 million of subordinated notes.
Wells Fargo Securities, LLC was the placement agent.
GC Investment Management will manage the CLO.
The notes are backed primarily by middle-market senior secured corporate loans.
GC Investment Management is an affiliate of New York-based middle market lender Golub Capital.
| Issuer: | Golub Capital Partners CLO 49(M) Ltd./Golub Capital Partners CLO 49(M) LLC
|
| Amount: | $595.78 million
|
| Securities: | Floating-rate and subordinated notes
|
| Maturity: | July 20, 2032
|
| Structure: | Middle-market CLO
|
| Placement agent: | Wells Fargo Securities, LLC
|
| Manager: | GC Investment Management LLC
|
| Settlement date: | July 15
|
|
|
| Class A-1 notes
|
| Amount: | $315 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $21 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 285 bps
|
| Ratings: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $42 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 320 bps
|
| Ratings: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $54 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 365 bps
|
| Ratings: | S&P: A
|
|
|
| Equity
|
| Amount: | $163.78 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
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