Chicago, March 25 – GC Investment Management LLC refinanced for $1.24 billion the collateralized loan obligation issued by Golub Capital Partners CLO 18(M)-R2, according to a pre-sale report.
The notes will mature on April 25, 2035.
The CLO now consists of $684 million of class A-1-R2 floating-rate notes at SOFR plus 178 basis points, $7 million of class A-2a-2 floating-rate notes at SOFR plus 195 bps, $29 million of class A-2b-2 3.93% fixed-rate notes, $96 million of class B-R2 floating-rate notes at SOFR plus 220 bps, $96 million of class C-R2 deferrable floating-rate notes at SOFR plus 300 bps, $72 million of class D-R2 senior secured deferrable floating-rate notes at SOFR plus 385 bps and $254.92 million of subordinated notes.
GC Investment Management LLC will manage the collateral through the end of the reinvestment period on April 25, 2026.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting April 25, 2024.
SMBC Nikko Securities America Inc. was the placement agent.
GC Investment Management is an affiliate of New York-based middle market lender Golub Capital.
| Issuer: | Golub Capital Partners CLO 18(M)-R2
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $1,238,920,000
|
| Maturity: | April 25, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | SMBC Nikko Securities America Inc.
|
| Manager: | GC Investment Management LLC
|
| Call feature: | April 25, 2024
|
| Settlement date: | April 21
|
|
|
| Class A-1-R2 notes
|
| Amount: | $684 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 178 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2a-2 notes
|
| Amount: | $7 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2b-2 notes
|
| Amount: | $29 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.93%
|
| Rating: | S&P: AAA
|
|
|
| Class B-R2 notes
|
| Amount: | $96 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R2 notes
|
| Amount: | $96 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R2 notes
|
| Amount: | $72 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 385 bps
|
| Rating: | S&P: BBB-
|
|
|
| Subordinated notes
|
| Amount: | $254.92 million
|
| Securities: | Subordinated notes
|
|
|
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