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GC Advisors offers $410 million notes due 2028 in middle-market CLO
By Cristal Cody
Eureka Springs, Ark., July 21 – GC Advisors LLC plans to price $410,086,000 of notes due Aug. 8, 2028 in a middle-market collateralized loan obligation deal, according to a market source.
The Golub Capital Investment Corp. CLO 2016(M) LLC transaction includes $220 million of class A floating-rate notes (/AAA/); $32.5 million of class B floating-rate notes; $42.3 million of class C floating-rate notes; $28.6 million of class D floating-rate notes and $86,686,000 of subordinated notes.
Wells Fargo Securities LLC is the placement agent.
GC Advisors will manage the CLO.
The CLO is non-callable until Aug. 8, 2018. The reinvestment period ends Aug. 8, 2020.
The transaction is backed primarily by middle-market senior secured loans.
GC Advisors is managed by New York-based middle market lender Golub Capital, which has priced one CLO year to date.
Golub Capital tapped the CLO primary market twice in 2015.
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