Chicago, Feb. 9 – Blackstone Liquid Credit Strategies LLC sold $506.9 million in a collateralized loan obligation issued by Stratus CLO 2021-1, Ltd., according to a notice.
The notes will mature on Dec. 31, 2029.
The CLO consists of $340 million of class A senior secured floating-rate notes, $60 million of class B senior secured floating-rate notes, $25 million of class C mezzanine secured deferrable floating-rate notes, $23.8 million of class D mezzanine secured deferrable floating-rate notes, $16.3 million of class E junior secured deferrable floating-rate notes, $5 million of class F junior secured deferrable floating-rate notes and $36.8 million of subordinated notes.
Blackstone Liquid Credit Strategies LLC will manage the broadly syndicated senior secured corporate loans backing the notes. There is no reinvestment period.
Citigroup Global Markets Inc. was the placement agent.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Stratus CLO 2021-1, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $506.9 million
|
| Maturity: | Dec. 31, 2029
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Blackstone Liquid Credit Strategies LLC
|
| Settlement date: | Dec. 29
|
|
|
| Class A notes
|
| Amount: | $340 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa1
|
|
|
| Class C notes
|
| Amount: | $25 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $23.8 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
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| Amount: | $16.3 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Rating: | Moody's: Ba2
|
|
|
| Class F notes
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| Amount: | $5 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Rating: | Moody's: B1
|
|
|
| Subordinated notes
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| Amount: | $36.8 million
|
| Securities: | Subordinated notes
|
|
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