HPS prices $489.4 million reset of 2013 CLO; BlueMountain prices $393.85 million refinancing

By Cristal Cody

Tupelo, Miss., Oct. 25 – HPS Investment Partners CLO (US), LLC and BlueMountain Capital Management LLC refinanced and reset vintage CLOs.

HPS Investment Partners CLO (US) priced $489.4 million of notes in a refinancing of a 2013 CLO.

BlueMountain Capital Management sold $393.85 million of notes in a 2013 CLO refinancing.

In its deal, HPS Investment Partners CLO (US) priced $489.4 million of notes in a refinancing and reset of a vintage 2013 CLO, according to a market source and a notice of executed second supplemental indenture on Monday.

HPS Loan Management 2013-2 Ltd./HPS Loan Management 2013-2 LLC sold $278.5 million of class A-1AR senior secured floating-rate notes at Libor plus 116 basis points in the senior tranche.

RBC Capital Markets, LLC was the refinancing placement agent.

The maturity on the notes was extended to Oct. 20, 2029 from the original Oct. 20, 2024 maturity.

Meanwhile, BlueMountain Capital Management refinanced $393.85 million of notes due Oct. 15, 2026 in a reset of the BlueMountain CLO 2013-2 Ltd./BlueMountain CLO 2013-2 LLC transaction, according to a market source and a notice of executed supplemental indenture dated on Tuesday.

The CLO priced $248.75 million of class A-1-R senior secured floating-rate notes at Libor plus 118 bps at the top of the capital structure.

J.P. Morgan Securities LLC was the refinancing placement agent.

The refinanced notes are due Oct. 22, 2030.

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