Chicago, June 9 – HPS Investment Partners LLC sold $410.07 million in a collateralized loan obligation being issued by HPS Loan Management 2023-18 Ltd./HPS Loan Management 2023-18 LLC, according to a presale report.
The notes will mature on July 20, 2036.
The CLO consists of $244 million of class A senior secured floating-rate notes at SOFR plus 220 basis points, $57 million of class B senior secured floating-rate notes at SOFR plus 295 bps, $23.6 million of class C senior secured deferrable floating-rate notes at SOFR plus 365 bps, $21 million of class D senior secured deferrable floating-rate notes at SOFR plus 575 bps, $12.8 million of class E senior secured deferrable floating-rate notes at SOFR plus 897 bps, $8 million of class F senior secured deferrable floating-rate notes at SOFR plus 822 bps and $43.67 million of subordinated notes.
HPS Investment Partners LLC will manage the collateral through the end of the reinvestment period on July 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting July 20, 2025.
RBC Capital Markets LLC was the placement agent.
The subsidiary of Highbridge Capital Management, LLC is based in New York City.
| Issuer: | HPS Loan Management 2023-18 Ltd./HPS Loan Management 2023-18 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $410.07 million
|
| Maturity: | July 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | RBC Capital Markets LLC
|
| Manager: | HPS Investment Partners LLC
|
| Call feature: | July 20, 2025
|
| Settlement date: | June 27
|
|
|
| Class A notes
|
| Amount: | $244 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
|
|
| Class B notes
|
| Amount: | $57 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 295 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $23.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 365 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 575 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 897 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | $8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 822 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $43.67 million
|
| Securities: | Subordinated notes
|
|
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