Chicago, Sept. 9 – GC Investment Management LLC refinanced and extended for $748.05 million the collateralized loan obligation issued by Golub Capital Partners CLO 49(M) LP, according to a pre-sale report.
The notes will now mature on Aug. 26, 2033 for the secured debt and Aug. 26, 2121 for the subordinated notes.
The refinanced CLO consists of $403.3 million of class A-R senior secured floating-rate notes at Libor plus 153 basis points, $30 million of class A-L senior secured floating-rate loans at Libor plus 153 bps, $74.75 million of class B-R senior secured floating-rate notes at Libor plus 190 bps, $59.8 million of class C-R senior secured deferrable floating-rate notes at Libor plus 260 bps, $44.85 million of class D-R senior secured deferrable floating-rate notes at Libor plus 385 bps and $135.345 million of subordinated notes.
The original CLO had $315 million of class A-1 floating-rate notes at Libor plus 250 bps, $21 million of class A-2 floating-rate notes at Libor plus 285 bps, $42 million of class B floating-rate notes at Libor plus 320 bps, $54 million of class C deferrable floating-rate notes at Libor plus 365 bps and $163.78 million of subordinated notes.
GC Investment Management LLC will manage the collateral through the end of the reinvestment period on Aug. 26, 2025.
The notes can be called starting Aug. 26, 2023.
Wells Fargo Securities LLC was the placement agent.
GC Investment Management is an affiliate of New York-based middle market lender Golub Capital.
| Issuer: | Golub Capital Partners CLO 49(M) LP
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $748.045 million
|
| Maturity: | Aug. 26, 2033 for the secured debt and Aug. 26, 2121 for the subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities LLC
|
| Manager: | GC Investment Management LLC
|
| Call feature: | Aug. 26, 2023
|
| Settlement date: | Aug. 26
|
|
|
| Class A-R notes
|
| Amount: | $403.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 153 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L loans
|
| Amount: | $30 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Libor plus 153 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $74.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $59.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $44.85 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 385 bps
|
| Rating: | S&P: BBB-
|
|
|
| Subordinated notes
|
| Amount: | $135.345 million
|
| Securities: | Subordinated notes
|
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