By Cristal Cody
Tupelo, Miss., June 18 – Golub Capital affiliate GS Investment Management LLC priced $805.5 million of loans and notes in the Golub Capital Partners CLO 44(M) Ltd./Golub Capital Partners CLO 44(M) LLC transaction, according to market sources.
The CLO sold $317 million of class A-1 floating-rate notes at Libor plus 167 basis points, $100 million of class A-1 loans at Libor plus 167 bps, $27 million of class A-2-A floating-rate notes at Libor plus 190 bps and $10 million of 3.84% class A-2-B fixed-rate notes.
Golub also priced $58 million of class B floating-rate notes at Libor plus 240 bps, $89 million of class C deferrable floating-rate notes at Libor plus 345 bps, $49 million of class D deferrable floating-rate notes at Libor plus 350 bps and $155.5 million of subordinated notes.
The loans and floating- and fixed-rate notes are due June 21, 2031. The equity tranche has a maturity of June 21, 2119.
Natixis Securities Americas LLC was the placement agent.
GS Investment Management will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
The offering is collateralized primarily by middle-market senior secured term loans.
Golub Capital is a New York-based middle market lender.
| Issuer: | Golub Capital Partners CLO 44(M) Ltd./Golub Capital Partners CLO 44(M) LLC
|
| Amount: | $805.5 million
|
| Securities: | Loans and fixed-rate, floating-rate and subordinated notes
|
| Structure: | Middle-market CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | GS Investment Management LLC
|
| Call feature: | Two years
|
| Pricing date: | June 7
|
| Settlement date: | June 21
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1 notes
|
| Amount: | $317 million
|
| Securities: | Floating-rate notes
|
| Maturity: | June 21, 2031
|
| Coupon: | Libor plus 167 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 loans
|
| Amount: | $100 million
|
| Securities: | Loans
|
| Maturity: | June 21, 2031
|
| Coupon: | Libor plus 167 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2-A notes
|
| Amount: | $27 million
|
| Securities: | Floating-rate notes
|
| Maturity: | June 21, 2031
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2-B notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate notes
|
| Maturity: | June 21, 2031
|
| Coupon: | 3.84%
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $58 million
|
| Securities: | Floating-rate notes
|
| Maturity: | June 21, 2031
|
| Coupon: | Libor plus 240 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $89 million
|
| Securities: | Deferrable floating-rate notes
|
| Maturity: | June 21, 2031
|
| Coupon: | Libor plus 345 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $49 million
|
| Securities: | Deferrable floating-rate notes
|
| Maturity: | June 21, 2031
|
| Coupon: | Libor plus 350 bps
|
| Rating: | S&P: BBB-
|
|
|
| Equity
|
| Amount: | $155.5 million
|
| Securities: | Subordinated notes
|
| Maturity: | June 21, 2119
|
| Ratings: | Non-rated
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
