Chicago, March 24 – OPAL BSL LLC repriced a vintage May 2017 transaction for $539.65 million with Golub Capital Partners 19(B)-R2 Ltd./Golub Capital Partners 19(B)-R2 LLC listed as issuers, according to a pre-sale report.
The maturity date is April 20, 2034.
The portfolio now includes $325 million of class A-R2 floating-rate notes at Libor plus 113 basis points, $32 million of class B-1-R2 floating-rate notes at Libor plus 155 bps, $48.28 million of class B-2-R2 3.01% fixed-rate notes, $29.4 million of class C-R2 floating-rate notes at Libor plus 230 bps, $32.1 million of class D-R2 floating-rate notes at Libor plus 345 bps, $18.75 million of class E-R2 floating-rate notes at Libor plus 625 bps and $54.12 million of subordinated notes.
GreensLedge Capital Markets LLC is the placement agent.
The notes come with two years of call protection.
OPAL BSL will manage the portfolio with is nearly all senior secured loans, cash and eligible investments with most borrowers based in the United States.
The reinvestment period ends April 20, 2026.
Opal is an investment firm and affiliate of middle market lender Golub Capital.
| Issuers: | Golub Capital Partners 19(B)-R2 Ltd./Golub Capital Partners 19(B)-R2 LLC
|
| Issue: | Floating-rate, fixed-rate and subordinate notes
|
| Structure: | Cash flow CLO
|
| Amount: | $539.65 million
|
| Maturity: | April 20, 2034
|
| Agent: | GreensLedge Capital Markets LLC
|
| Manager: | OPAL BSL LLC
|
| Call: | April 15, 2023
|
| Pricing date: | March 23
|
| Settlement date: | April 15
|
|
|
| Class A-R2 notes
|
| Amount: | $325 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1-R2 notes
|
| Amount: | $32 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2-R2 notes
|
| Amount: | $48.28 million
|
| Securities: | Fixed-rate notes
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| Coupon: | 3.01%
|
| Rating: | S&P: AA
|
|
|
| Class C-R2 notes
|
| Amount: | $29.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R2 notes
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| Amount: | $32.1 million
|
| Securities: | Floating-rate notes
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| Coupon: | Libor plus 345 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R2 notes
|
| Amount: | $18.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 625 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $54.12 million
|
| Securities: | Subordinated notes
|
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