Chicago, May 3 – Blackstone CLO Management LLC sold $547 million in a collateralized loan obligation issued by Wehle Park CLO, Ltd., according to multiple press releases.
The notes will mature on April 23, 2035.
The CLO consists of $345.6 million of class A senior secured floating-rate notes at SOFR plus 132 basis points, $64.8 million of class B senior secured floating-rate notes at SOFR plus 185 bps, $32.4 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 225 bps, $32.4 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 335 bps, $21.6 million of class E junior secured deferrable floating-rate notes at SOFR plus 675 bps and $50.2 million of subordinated notes.
Blackstone CLO Management LLC will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Barclays was the placement agent.
The New York City-based firm is a subsidiary of Blackstone Group LP.
| Issuer: | Wehle Park CLO, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $547 million
|
| Maturity: | April 23, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Blackstone CLO Management LLC
|
| Settlement date: | April 1
|
|
|
| Class A notes
|
| Amount: | $345.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 132 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $64.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $32.4 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $32.4 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 335 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $21.6 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 675 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $50.2 million
|
| Securities: | Subordinated notes
|
|
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