Chicago, Jan. 24 – BSP CLO Management LLC sold $420.05 million in a collateralized loan obligation being issued by Benefit Street Partners CLO XXX Ltd./Benefit Street Partners CLO XXX LLC, according to a presale report.
The notes will mature on April 25, 2036.
The CLO consists of $263.5 million of class A senior secured floating-rate notes at SOFR plus 210 basis points, $38.25 million of class B-1 senior secured floating-rate notes at SOFR plus 275 bps, $21.25 million of class B-2 5.89% senior secured fixed-rate notes, $23.375 million of class C senior secured deferrable floating-rate notes at SOFR plus 355 bps, $23.375 million of class D senior secured deferrable floating-rate notes at SOFR plus 560 bps, $13.8 million of class E senior secured deferrable floating-rate notes at SOFR plus 840 bps and $36.5 million of subordinated notes.
BSP CLO Management LLC will manage the collateral through the end of the reinvestment period on April 25, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 25, 2025.
BofA Securities Inc. was the placement agent.
The CLO manger is a wholly owned subsidiary of Franklin Templeton Investments and is based in New York City.
| Issuer: | Benefit Street Partners CLO XXX Ltd./Benefit Street Partners CLO XXX LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $420.05 million
|
| Maturity: | April 25, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | BSP CLO Management LLC
|
| Call feature: | April 25, 2025
|
| Settlement date: | Feb. 23
|
|
|
| Class A notes
|
| Amount: | $263.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $38.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $21.25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.89%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $23.375 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 355 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $23.375 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 560 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 840 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $36.5 million
|
| Securities: | Subordinated notes
|
|
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