Chicago, Feb. 9 – Blackstone Liquid Credit Strategies LLC sold $401.82 million in a static collateralized loan obligation issued by Stratus CLO 2021-3, Ltd., according to a notice.
The notes will mature on Dec. 29, 2029.
The CLO consists of $272 million of class A floating-rate notes at Libor plus 95 basis points, $48 million of class B floating-rate notes at Libor plus 155 bps, $24 million of class C floating-rate notes at Libor plus 205 bps, $15 million of class D floating-rate notes at Libor plus 260 bps, $13 million of class E floating-rate notes at Libor plus 575 bps, $4 million of class F floating-rate notes at Libor plus 770 bps and $25.815 million of subordinated notes.
Blackstone Liquid Credit Strategies LLC will manage the portfolio of first-lien senior secured leveraged loans backing the notes. There is no reinvestment period, though.
The New York City-based firm is a subsidiary of Blackstone Group LP.
Issuer: | Stratus CLO 2021-3, Ltd.
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $401.815 million
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Maturity: | Dec. 29, 2029
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Structure: | Cash flow CLO
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Manager: | Blackstone Liquid Credit Strategies LLC
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Settlement date: | Dec. 29
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Class A notes
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Amount: | $272 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 95 bps
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Rating: | Fitch: AAA
|
|
Class B notes
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Amount: | $48 million
|
Securities: | Floating-rate notes
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Coupon: | Libor plus 155 bps
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Rating: | Fitch: AA+
|
|
Class C notes
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Amount: | $24 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 205 bps
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Rating: | Fitch: A+
|
|
Class D notes
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Amount: | $15 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 260 bps
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Rating: | Fitch: BBB+
|
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Class E notes
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Amount: | $13 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 575 bps
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Rating: | Fitch: BBB-
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Class F notes
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Amount: | $4 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 770 bps
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Rating: | Fitch: BB+
|
|
Subordinated notes
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Amount: | $25.815 million
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Securities: | Subordinated notes
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