Chicago, July 15 – Blackstone CLO Management LLC sold $393.61 million in a collateralized loan obligation being issued by Stratus Static CLO 2022-1, Ltd., according to a new issue report.
The notes will mature on July 20, 2030.
The CLO consists of $272 million of class A floating-rate notes at SOFR plus 175 basis points, $44.5 million of class B floating-rate notes at SOFR plus 235 bps, $23.8 million of class C floating-rate notes at SOFR plus 310 bps, $18.7 million of class D floating-rate notes at SOFR plus 425 bps, $12.2 million of class E floating-rate notes at SOFR plus 750 bps, $4.8 million of class F floating-rate notes at SOFR plus 855 bps and $17.61 million of subordinated notes.
Blackstone CLO Management LLC will manage the CLO. There is no reinvestment period, as the CLO is static.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Stratus Static CLO 2022-1, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $393.61 million
|
| Maturity: | July 20, 2030
|
| Structure: | Cash flow CLO
|
| Manager: | Blackstone CLO Management LLC
|
| Settlement date: | July 12
|
|
|
| Class A notes
|
| Amount: | $272 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $44.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 235 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $23.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $18.7 million
|
| Securities: | floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $12.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 750 bps
|
| Rating: | Fitch: BB+
|
|
|
| Class F notes
|
| Amount: | $4.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 855 bps
|
| Rating: | Fitch: B+
|
|
|
| Subordinated notes
|
| Amount: | $17.61 million
|
| Securities: | Subordinated notes
|
|
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