Chicago, Aug. 29 – Golub Capital priced $729.88 million of notes due Oct. 20, 2031 in the Golub Capital Partners CLO 45(M) Ltd./Golub Capital Partners CLO 45(M) LLC transaction, according to a market source.
The CLO sold $356 million of class A senior secured floating-rate notes at Libor plus 172 basis points; $50 million class A senior secured floating-rate loans at Libor plus 172 bps; $71 million class B-1 senior secured floating-rate notes at Libor plus 255 bps and $16 million class B-2 senior secured 4% fixed-rate notes.
The CLO additionally sold $54.38 million class C deferrable floating-rate notes at Libor plus 380 bps; $5 million class D-1 deferrable floating-rate notes at Libor plus 450 bps; $38.5 million class D-2 deferrable floating-rate notes at Libor plus 385 bps and $139 million of subordinated notes.
Morgan Stanley & Co. LLC was the agent.
The CLO manager is GC Investment Management LLC.
The offering is collateralized primarily by broadly syndicated senior secured term loans.
Golub Capital is a New York-based middle market lender.
| Issuer: | Golub Capital Partners CLO 45(M) Ltd./Golub Capital Partners CLO 45(M) LLC
|
| Amount: | $729,875,000
|
| Securities: | Fixed- and floating-rate notes
|
| Maturity: | Oct. 20, 2031
|
| Structure: | Cash flow CLO
|
| Agent: | Morgan Stanley & Co. LLC
|
| Manager: | GC Investment Management LLC
|
| Pricing date: | Aug. 29
|
| Settlement date: | Sept. 5
|
|
|
| Class A notes
|
| Amount: | $356 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 172 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A loans
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Libor plus 172 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $71 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 255 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $16 million
|
| Securities: | Secured deferrable fixed-rate notes
|
| Coupon: | 4%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $54.38 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 380 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $5 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 450 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D-2 notes
|
| Amount: | $38.5 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 385 bps
|
| Rating: | S&P: BBB-
|
|
|
| Equity
|
| Amount: | $139 million
|
| Securities: | Subordinated notes
|
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