Chicago, March 17 – Blackstone Private Credit Fund issued $1.05 billion in a collateralized loan obligation issued by BCRED MML CLO 2021-1 LLC, according to a press release.
The CLO will mature on Jan. 15, 2035.
The CLO consists of $530 million of class A senior secured floating-rate notes, $50 million of class A senior secured floating-rate loans, $80 million of class B senior secured floating-rate notes, $80 million of class C mezzanine secured deferrable floating-rate notes and $311 million of subordinated notes.
Blackstone Private Credit Fund will manage the collateral through the end of the five-year reinvestment period on five-year.
Collateral for the notes consists of middle-market loans.
BNP Paribas Securities Corp. was the placement agent.
The investment and advisory firm based in New York.
| Issuer: | BCRED MML CLO 2021-1 LLC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $1051 million
|
| Maturity: | Jan. 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Blackstone Private Credit Fund
|
| Settlement date: | Dec. 15, 2021
|
|
|
| Class A notes
|
| Amount: | $530 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class A loans
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| Amount: | $50 million
|
| Securities: | Senior secured floating-rate loans
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| Rating: | Moody's: Aaa
|
|
|
| Class B notes
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| Amount: | $80 million
|
| Securities: | Senior secured floating-rate notes
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| Rating: | Moody's: Aa2
|
|
|
| Class C notes
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| Amount: | $80 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Subordinated notes
|
| Amount: | $311 million
|
| Securities: | Subordinated notes
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