Chicago, Feb. 9 – Blackstone Liquid Credit Strategies LLC sold $505.7 million in a collateralized loan obligation issued by Stratus CLO 2021-2, Ltd., according to a notice.
The notes will mature on Dec. 28, 2029.
The CLO consists of $340 million of class A floating-rate notes at Libor plus 90 basis points, $60 million of class B floating-rate notes at Libor plus 150 bps, $30 million of class C floating-rate notes at Libor plus 190 bps, $18.75 million of class D floating-rate notes at Libor plus 265 bps, $16.25 million of class E floating-rate notes at Libor plus 575 bps, $5 million of class F floating-rate notes at Libor plus 736 bps and $35.7 million of subordinated notes.
Blackstone Liquid Credit Strategies LLC will manage the collateral of first-lien senior secured leveraged loans. There is no reinvestment period.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Stratus CLO 2021-2, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $505.7 million
|
| Maturity: | Dec. 28, 2029
|
| Structure: | Cash flow CLO
|
| Manager: | Blackstone Liquid Credit Strategies LLC
|
| Settlement date: | Dec. 28
|
|
|
| Class A notes
|
| Amount: | $340 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 90 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $18.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 265 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $16.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 575 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class F notes
|
| Amount: | $5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 736 bps
|
| Rating: | Fitch: BB+
|
|
|
| Subordinated notes
|
| Amount: | $35.7 million
|
| Securities: | Subordinated notes
|
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