By Cristal Cody
Tupelo, Miss., April 25 – Golub Capital affiliate GS Investment Management LLC priced $804.16 million of notes due April 20, 2031 in the Golub Capital Partners CLO 42(M) Ltd./Golub Capital Partners CLO 42(M) LLC transaction that closed on Thursday, according to market sources.
The CLO sold $427 million of class A-1 floating-rate notes at Libor plus 170 basis points, $27 million of class A-2 floating-rate notes at Libor plus 200 bps and $50 million of class B floating-rate notes at Libor plus 260 bps.
Golub sold $89 million of class C-1 deferrable floating-rate notes at Libor plus 370 bps, $7 million of 6.099% class C-2 deferrable fixed-rate notes, $48 million of class D deferrable floating-rate notes at Libor plus 350 bps and $156.16 million of subordinated notes.
Wells Fargo Securities, 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 senior secured term loans.
Golub Capital is a New York-based middle market lender.
| Issuer: | Golub Capital Partners CLO 42(M) Ltd./Golub Capital Partners CLO 42(M) LLC
|
| Amount: | $804.16 million
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Maturity: | April 20, 2031
|
| Structure: | Middle-market CLO
|
| Placement agent: | Wells Fargo Securities, LLC
|
| Manager: | GS Investment Management LLC
|
| Call feature: | Two years
|
| Pricing date: | April 12
|
| Settlement date: | April 25
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1 notes
|
| Amount: | $427 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $27 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $89 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
|
| Amount: | $7 million
|
| Securities: | Deferrable fixed-rate notes
|
| Coupon: | 6.099%
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $48 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 350 bps
|
| Rating: | S&P: BBB-
|
|
|
| Equity
|
| Amount: | $156.16 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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