Chicago, June 8 – GC Investment Management LLC sold $701.75 million in a collateralized loan obligation being issued by Golub Capital Partners CLO 61(M), according to a presale report.
The notes will mature on July 25, 2035.
The CLO consists of a $30 million of class A-1 loan at SOFR plus 198 basis points, $351 million of class A-1A senior secured floating-rate notes at SOFR plus 198 bps, $25 million of class A-1B 4.55% senior secured fixed-rate notes, $14 million of class A-2 senior secured floating-rate notes at SOFR plus 230 bps, $9.5 million of class B-1 senior secured floating-rate notes at SOFR plus 275 bps, $46.5 million of class B-2 5.24% senior secured fixed-rate notes, $23 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 400 bps, $33 million of class C-2 6.54% senior secured deferrable fixed-rate notes, $21 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 470 bps, $21 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 500 bps and $127.75 million of subordinated notes.
GC Investment Management LLC will manage the collateral through the end of the reinvestment period on July 25, 2026.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting June 23, 2024.
Natixis Securities Americas 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 61(M)
|
| Issue: | Floating-rate loans, floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $701.75 million
|
| Maturity: | July 25, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | GC Investment Management LLC
|
| Call feature: | June 23, 2024
|
| Settlement date: | June 23
|
|
|
| Class A-1 loan
|
| Amount: | $30 million
|
| Securities: | Loan
|
| Coupon: | SOFR plus 198 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1A notes
|
| Amount: | $351 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 198 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1B notes
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| Amount: | $25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.55%
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
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| Amount: | $14 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $9.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $46.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.24%
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
|
| Amount: | $33 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 6.54%
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 470 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 500 bps
|
| Rating: | S&P: BBB+
|
|
|
| Subordinated notes
|
| Amount: | $127.75 million
|
| Securities: | Subordinated notes
|
|
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