Chicago, March 15 – HPS Investment Partners LLC sold $394.29 million in a collateralized loan obligation being issued by HPS Private Credit CLO 2024-2 LLC, according to a presale report.
The notes will mature on May 15, 2036.
The CLO consists of $232 million of class A senior secured floating-rate notes at SOFR plus 198 basis points, $40 million of class B senior secured floating-rate notes at SOFR plus 245 bps, $32 million of class C senior secured deferrable floating-rate notes at SOFR plus 325 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 505 bps, $24 million of class E senior secured deferrable floating-rate notes at SOFR plus 812 bps and $42.29 million of subordinated notes.
HPS Investment Partners LLC will manage the collateral through the end of the reinvestment period on March 19, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting March 19, 2026.
Natixis Securities Americas LLC was the placement agent.
HPS is a New York-based fund that seeks to invest primarily in newly originated senior secured debt and debt securities.
| Issuer: | HPS Private Credit CLO 2024-2 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $394.29 million
|
| Maturity: | May 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | HPS Investment Partners LLC
|
| Call feature: | March 19, 2026
|
| Pricing date: | March 13
|
| Settlement date: | March 19
|
|
|
| Class A notes
|
| Amount: | $232 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 198 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $40 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 505 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 812 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $42.29 million
|
| Securities: | Subordinated notes
|
|
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