Chicago, May 28 – Blackstone CLO Management LLC refinanced the Harriman Park CLO Ltd./Harriman Park CLO LLC for $503.45 million, according to a notice.
The CLO now matures April 20, 2034, extended from April 20, 2031.
The portfolio now has $5 million of class X-R senior secured floating-rate notes at Libor plus 60 basis points, $295.75 million of class A-1R senior secured floating-rate notes at Libor plus 112 bps, $11.75 million of class A-2R senior secured floating-rate notes at Libor plus 140 bps, $56 million of class B-1R senior secured floating-rate notes at Libor plus 160 bps and $14 million of class B-2R 2.93% senior secured fixed-rate notes.
Lower, there are $30 million of class C-R senior secured deferrable floating-rate notes at Libor plus 195 bps, $31.25 million of class D-R senior secured deferrable floating-rate notes at Libor plus 310 bps and $18 million of class E-R senior secured deferrable floating-rate notes at Libor plus 640 bps.
There are also $41.7 million of subordinated notes.
Originally, the notes were issued by GSO/Blackstone Debt Funds Management LLC.
The original portfolio priced in April 2020 and had $320 million of class A floating-rate notes at Libor plus 120 basis points, $48 million of class B-1 floating-rate notes at Libor plus 175 bps, $12 million of 2.448% class B-2 fixed-rate notes, $30 million of class C deferrable floating-rate notes at Libor plus 250 bps, $30 million of class D deferrable floating-rate notes at Libor plus 364 bps, $20 million of class E deferrable floating-rate notes at Libor plus 691 bps and $41.7 million of subordinated notes.
Blackstone CLO Management is the collateral manager. The reinvestment period ends April 20, 2026.
Collateral is senior secured term loans.
The notes can be called after April 20, 2023.
Citigroup Global Markets Inc. is the initial purchaser.
The issuer is a New York City-based firm.
| Issuers: | Harriman Park CLO Ltd./Harriman Park CLO LLC
|
| Issue: | Floating-rate, fixed-rate and subordinated notes
|
| Amount: | $503.45 million
|
| Maturity: | April 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Blackstone CLO Management LLC
|
| Call feature: | April 20, 2023
|
| Settlement date: | April 27
|
|
|
| Class X-R notes
|
| Amount: | $5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 60 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1R notes
|
| Amount: | $295.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 112 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2R notes
|
| Amount: | $11.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | S&P:
|
|
|
| Class B-1R notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2R notes
|
| Amount: | $14 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.93%
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $31.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 640 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $41.7 million
|
| Securities: | Subordinated notes
|
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