Chicago, Jan. 13 – GC Investment Management LLC sold $1.05 billion in a collateralized loan obligation being issued by Golub Capital Partners CLO 59(M), according to a pre-sale report.
The notes will mature on Jan. 20, 2034.
The CLO consists of $598.5 million of class A-1 senior secured floating-rate notes at Libor plus 149 basis points, $31.5 million of class A-2 senior secured floating-rate notes at Libor plus 165 bps, $64 million of class B-1 senior secured floating-rate notes at Libor plus 190 bps, $20 million of class B-2 3.11% senior secured fixed-rate notes, $84 million of class C senior secured deferrable floating-rate notes at Libor plus 255 bps, $63 million of class D senior secured deferrable floating-rate notes at Libor plus 360 bps and $192.2 million of subordinated notes.
GC Investment Management LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2026.
The collateral pool is mostly made of middle-market speculative-grade senior secured term loans.
The notes can be called starting Dec. 22, 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 59(M)
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $1,053,200,000
|
| Maturity: | Jan. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities LLC
|
| Manager: | GC Investment Management LLC
|
| Call feature: | Dec. 22, 2023
|
| Settlement date: | Dec. 22
|
|
|
| Class A-1 notes
|
| Amount: | $598.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 149 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $31.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $64 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.11%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $84 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 255 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $63 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 360 bps
|
| Rating: | S&P: BBB-
|
|
|
| Subordinated notes
|
| Amount: | $192.2 million
|
| Securities: | Subordinated notes
|
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