Chicago, June 5 – Blackstone CLO Management LLC sold $599.31 million in a collateralized loan obligation being issued by Juniper Valley Park CLO Ltd./Juniper Valley Park CLO LLC, according to a presale report.
The notes will mature on July 20, 2035.
The CLO consists of $308 million of class A-1 senior secured floating-rate notes at SOFR plus 185 basis points, $65 million of class A-L senior secured floating-rate loans at SOFR plus 185 bps, $0 million of class A-L notes senior secured floating-rate notes at SOFR plus 185 bps, $5 million of class A-2 5.13% senior secured fixed-rate notes, $75 million of class B senior secured floating-rate notes at SOFR plus 255 bps, $36 million of class C senior secured deferrable floating-rate notes at SOFR plus 300 bps, $36.9 million of class D senior secured deferrable floating-rate notes at SOFR plus 470 bps, $18.9 million of class E senior secured deferrable floating-rate notes at SOFR plus 800 bps and $54.51 million of subordinated notes.
Blackstone CLO Management LLC will manage the collateral through the end of the reinvestment period on July 20, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting July 20, 2024.
BNP Paribas Securities Corp. was the placement agent.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Juniper Valley Park CLO Ltd./Juniper Valley Park CLO LLC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $599.31 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Blackstone CLO Management LLC
|
| Call feature: | July 20, 2024
|
| Settlement date: | June 8
|
|
|
| Class A-1 notes
|
| Amount: | $308 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
|
|
| Class A-L loans
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 185 bps
|
|
|
| Class A-L notes
|
| Amount: | $0 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
|
|
| Class A-2 notes
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| Amount: | $5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.13%
|
|
|
| Class B notes
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| Amount: | $75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $36.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 470 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $18.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 800 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $54.51 million
|
| Securities: | Subordinated notes
|
|
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