Chicago, Oct. 28 – Blackstone Liquid Credit Strategies LLC sold $388.95 million in a collateralized loan obligation being issued by Danby Park CLO Ltd./Danby Park CLO LLC, according to presale report.
The notes will mature on Oct. 21, 2035.
The CLO consists of $227 million of class A-1a senior secured floating-rate notes at SOFR plus 210 basis points, $25 million of class A-1b 6.03% senior secured fixed-rate notes, $12 million of class A-2 senior secured floating-rate notes at SOFR plus 275 bps, $36 million of class B senior secured floating-rate notes at SOFR plus 295 bps, $24.4 million of class C deferrable floating-rate notes at SOFR plus 395 bps, $22.8 million of class D deferrable floating-rate notes at SOFR plus 533 bps, $12.4 million of class E deferrable floating-rate notes at SOFR plus 875 bps and $29.35 million of subordinated notes.
Blackstone Liquid Credit Strategies LLC will manage the collateral through the end of the reinvestment period on Oct. 21, 2027.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 21, 2024.
Goldman Sachs & Co. LLC was the placement agent.
The New York City-based firm is a subsidiary of Blackstone Group LP.
Issuer: | Danby Park CLO Ltd./Danby Park CLO LLC
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $388.95 million
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Maturity: | Oct. 21, 2035
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Structure: | Cash flow CLO
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Placement agent: | Goldman Sachs & Co. LLC
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Manager: | Blackstone Liquid Credit Strategies LLC
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Call feature: | Oct. 21, 2024
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Settlement date: | Nov. 21
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Class A-1a notes
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Amount: | $227 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 210 bps
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|
Class A-1b notes
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Amount: | $25 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 6.03%
|
|
Class A-2 notes
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Amount: | $12 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 275 bps
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Rating: | S&P: AA+
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Class B notes
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Amount: | $36 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 295 bps
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Rating: | S&P: AA
|
|
Class C notes
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Amount: | $24.4 million
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Securities: | Deferrable floating-rate notes
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Coupon: | SOFR plus 395 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $22.8 million
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Securities: | Deferrable floating-rate notes
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Coupon: | SOFR plus 533 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $12.4 million
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Securities: | Deferrable floating-rate notes
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Coupon: | SOFR plus 875 bps
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $29.35 million
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Securities: | Subordinated notes
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