Chicago, March 7 – Z Capital CLO Management LLC sold $331.3 million in a collateralized loan obligation being issued by Z Capital Credit Partners BSL CLO 2024-1 Ltd./Z Capital Credit Partners BSL CLO 2024-1 LLC, according to a presale report.
The notes will mature on April 16, 2036.
The CLO consists of $198 million of class A senior secured floating-rate notes at SOFR plus 195 basis points, $46.2 million of class B senior secured floating-rate notes at SOFR plus 275 bps, $19.8 million of class C senior secured deferrable floating-rate notes at SOFR plus 365 bps, $19.8 million of class D senior secured deferrable floating-rate notes at SOFR plus 550 bps, $9.9 million of class E senior secured deferrable floating-rate notes at SOFR plus 735 bps and $37.6 million of subordinated notes.
Z Capital CLO Management LLC will manage the collateral through the end of the reinvestment period on Feb. 29, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Aug. 29, 2026.
Santander US Capital Markets LLC was the placement agent.
Z Capital Credit Partners is a global investment firm with offices in New York and Chicago.
| Issuer: | Z Capital Credit Partners BSL CLO 2024-1 Ltd./Z Capital Credit Partners BSL CLO 2024-1 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $331.3 million
|
| Maturity: | April 16, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Santander US Capital Markets LLC
|
| Manager: | Z Capital CLO Management LLC
|
| Call feature: | Aug. 29, 2026
|
| Pricing date: | Feb. 28
|
| Settlement date: | Feb. 29
|
|
|
| Class A notes
|
| Amount: | $198 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $46.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $19.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 365 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $19.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 550 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $9.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 735 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $37.6 million
|
| Securities: | Subordinated notes
|
|
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