Chicago, Feb. 16 – Blackstone CLO Management LLC refinanced and extended for $590.6 million the collateralized loan obligation issued by Allegany Park CLO Ltd./Allegany Park CLO LLC, according to multiple notices.
The notes will mature on Jan. 22, 2035.
The refinanced CLO consists of $320 million of class A-R senior secured floating-rate notes, $60 million of class B-R senior secured floating-rate notes, $30 million of class C-R mezzanine senior secured floating-rate notes, $30 million of class D-R mezzanine senior secured floating-rate notes, $20 million of class E-R junior secured deferrable floating-rate notes at SOFR plus 640 bps, $24.5 million of class M-1 notes, $24.5 million of class M-2 notes and $45.6 million of subordinated notes.
The original CLO had $320 million of class A floating-rate notes at Libor plus 133 bps, $32.5 million of class B-1 floating-rate notes at Libor plus 180 bps, $27.5 million of 3.494% class B-2 fixed-rate notes.
The CLO also priced $30 million of class C floating-rate notes at Libor plus 255 bps, $30 million of class D floating-rate notes at Libor plus 370 bps, $19 million of class E floating-rate notes at Libor plus 677.5 bps and $45,595,000 of subordinated notes.
Blackstone CLO Management LLC will manage the collateral through the end of the reinvestment period on 4.9 years.
Wells Fargo Securities, LLC was the placement agent.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Allegany Park CLO, Ltd.
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| Issue: | Floating-rate notes and subordinated notes
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| Amount: | $590.6 million
|
| Maturity: | Jan. 22, 2035
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| Structure: | Cash flow CLO
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| Placement agent: | Wells Fargo Securities, LLC
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| Manager: | Blackstone CLO Management LLC
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| Settlement date: | Feb. 15
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| Class A-R notes
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| Amount: | $320 million
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| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
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| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
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| Rating: | Fitch: AA
|
|
|
| Class C-R notes
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| Amount: | $30 million
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| Securities: | Mezzanine senior secured floating-rate notes
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| Rating: | Fitch: A
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| Class D-R notes
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| Amount: | $30 million
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| Securities: | Mezzanine senior secured floating-rate notes
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| Rating: | Fitch: BBB-
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|
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| Class E-R notes
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| Amount: | $20 million
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| Securities: | Junior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 640 bps
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| Rating: | Moody's: Ba3
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| Class M-1 notes
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| Amount: | $42.5 million
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| Securities: | Notes
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| Class M-2 notes
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| Amount: | $42.5 million
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| Securities: | Notes
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|
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| Subordinated notes
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| Amount: | $45.6 million
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| Securities: | Subordinated notes
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