Golub Capital has offloaded a $300 million collateralized loan obligation (CLO) through an affiliate, The Wall Street Journal reports. The small-loan financier sold Golub Capital Partners CLO 10 at slightly wider levels of 141 basis points over the three-month London interbank exchange rate.
The CLO, which has $197 million in class A senior secured notes due 2021, is financed by a portfolio of syndicated loan and is to be managed by GCI Operations. Wells Fargo is arranging the CLO, which is 95 percent invested in senior secured loans and the balance 5 percent may consist of other assets including second-lien notes and high-yield bonds.
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