Chicago, Dec. 4 – Blackstone CLO Management LLC priced $500.6 million of notes in a collateralized loan obligation being issued by Bayswater Park CLO Ltd./Bayswater Park CLO LLC, according to a presale report.
The notes will mature on Jan. 20, 2037.
The CLO consists of $310 million of class A-1 senior secured floating-rate notes at SOFR plus 173 basis points, $10 million of class A-2 6.05% senior secured fixed-rate notes, $57 million of class B senior secured floating-rate notes at SOFR plus 245 bps, $33 million of class C senior secured deferrable floating-rate notes at SOFR plus 290 bps, $28.75 million of class D senior secured deferrable floating-rate notes at SOFR plus 460 bps, $16.25 million of class E senior secured deferrable floating-rate notes at SOFR plus 741 bps and $45.6 million of subordinated notes.
Blackstone CLO Management LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Dec. 20, 2025.
Morgan Stanley & Co. LLC was the placement agent.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Bayswater Park CLO Ltd./Bayswater Park CLO LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $500.6 million
|
| Maturity: | Jan. 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Blackstone CLO Management LLC
|
| Call feature: | Dec. 20, 2025
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 20
|
|
|
| Class A-1 notes
|
| Amount: | $310 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 173 bps
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior Secured fixed-rate notes
|
| Coupon: | 6.05%
|
|
|
| Class B notes
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| Amount: | $57 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $33 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $28.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 460 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 741 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $45.6 million
|
| Securities: | Subordinated notes
|
|
|
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