Chicago, July 8 – Blackstone Liquid Credit Strategies LLC refinanced for $470 million the Thayer Park CLO, Ltd./Thayer Park CLO, LLC transaction, according to an indenture document.
The maturity date has been extended to April 2034.
The refinancing notes are the $5 million of class X-R senior secured floating-rate notes at Libor plus 85 basis points, $310 million of class A-1-R senior secured floating-rate notes at Libor plus 104 bps, $58 million of class A-2A-R senior secured floating-rate notes at Libor plus 140 bps and $12 million of class A-2B-R 2.81% senior secured fixed-rate notes.
Lower, there are $30 million of class B-R secured deferrable floating-rate notes at Libor plus 180 bps, $28.5 million of class C-R secured deferrable floating-rate notes at Libor plus 280 bps, $16.5 million of class D-R secured deferrable floating-rate notes at Libor plus 625 bps and $10 million of class E-R secured deferrable floating-rate notes at Libor plus 887 bps.
There are also $54.6 million of subordinated notes in the portfolio.
The non-call period has been extended to April 2023.
BNP Paribas Securities Corp. is the initial purchaser.
The reinvestment period ends in April 2026.
Blackstone Liquid Credit is the collateral manager.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuers: | Thayer Park CLO, Ltd./Thayer Park CLO, LLC
|
| Issue: | Floating-rate notes and fixed-rate notes
|
| Amount: | $470 million
|
| Maturity: | April 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Blackstone Liquid Credit Strategies LLC
|
| Call feature: | April 2023
|
| Settlement date: | March 23
|
|
|
| Class X-R notes
|
| Amount: | $5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 85 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1-R notes
|
| Amount: | $310 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 104 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-2A-R notes
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| Amount: | $58 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | S&P: AA
|
|
|
| Class A-2B-R notes
|
| Amount: | $12 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.81%
|
| Rating: | S&P: AA
|
|
|
| Class B-R notes
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| Amount: | $30 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | S&P: A
|
|
|
| Class C-R notes
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| Amount: | $28.5 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 280 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D-R notes
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| Amount: | $16.5 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 625 bps
|
| Rating: | S&P: BB-
|
|
|
| Class E-R notes
|
| Amount: | $10 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 887 bps
|
| Rating: | S&P: B-
|
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