Palmer Square Prices First CLO Issued From its Newly-Public BDC (“PSBD”)
30 4월 2024 - 9:00PM
Business Wire
Transaction marks the platform’s 71st CLO
issuance
Palmer Square Capital Management (together with its affiliates,
“Palmer Square”), a credit-focused asset management firm with over
$30 billion in assets, has announced the pricing of Palmer Square
BDC CLO 1, a $400.5 million collateralized loan obligation (“CLO”).
The vehicle is secured by broadly syndicated loans held by Palmer
Square Capital BDC Inc. (NYSE: PSBD) and will be managed by Palmer
Square Capital BDC Inc. Palmer Square BDC CLO 1 is the first CLO
transaction to be issued out of New York Stock Exchange-traded
PSBD, which invests meaningfully in broadly syndicated loans as
part of its opportunistic credit / total return investment
strategy. With the pricing of this CLO, the Palmer Square platform
is actively managing 46 CLOs outstanding, totaling over $20 billion
in assets (as of 4/8/24).
The deal was arranged by Bank of America and has a 5-year
reinvestment period running through July 15, 2029, and a final
maturity of July 15, 2037. Palmer Square has issued 71 CLO
transactions since inception. Year to date, Palmer Square has
issued approximately $3.2 billion in CLOs including 2 new issue
CLOs, 3 reset CLOs, and 1 refinanced CLO.
Palmer Square Chairman and CEO Christopher Long said, “On the
heels of the successful IPO in January of our business development
company, we are excited to announce PSBD’s first CLO transaction.
The issuance’s innovative structure, which consists entirely of
broadly syndicated loans, demonstrates PSBD’s ability to utilize
the CLO market as a way to diversify its financing sources as well
as lock-in term rate financing at an attractive cost. With PSBD’s
disciplined credit selection and active portfolio management, we
believe we are well-positioned to drive continued growth and
deliver long-term total return.”
About Palmer Square Capital Management Founded in 2009 by
Chris Long with major offices in Kansas City and London, Palmer
Square Capital Management manages over $30 billion in fixed
income/credit investments on behalf of a diverse client base
inclusive of institutional investors, wealth management firms, and
high net worth individuals (as of 3/31/24). The firm primarily
focuses on Opportunistic Credit, Income Strategies, Private Credit,
and CLOs while offering many product opportunities including mutual
funds, separately managed accounts, private partnerships (including
investments focused on the CLO market), CLOs, and a publicly-listed
Business Development Company, Palmer Square Capital BDC (NYSE:
PSBD).
About Palmer Square Capital BDC Inc. Palmer Square
Capital BDC Inc. (NYSE: PSBD) is an externally managed,
non-diversified closed-end management investment company that
primarily lends to and invests in corporate debt loans, including
but not limited to large private U.S. companies in the broadly
syndicated loan market, as well as the direct large cap private
credit market. PSBD has elected to be regulated as a business
development company under the Investment Company Act of 1940.
PSBD’s investment objective is to maximize total return, comprised
of current income and capital appreciation. PSBD’s current
investment focus is guided by two strategies that facilitate its
investment opportunities and core competencies: (1) investing in
corporate debt loans and, to a lesser extent, (2) investing in
other debt securities which may include collateralized loan
obligation debt and equity. PSBD’s investment activities are
managed by its investment adviser, Palmer Square BDC Advisor LLC,
an affiliate of Palmer Square Capital Management LLC.
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version on businesswire.com: https://www.businesswire.com/news/home/20240430992520/en/
Investors Andy Wedderburn-Maxwell Palmer Square Capital
BDC Inc. +1 (913)-386-9006 Investors@palmersquarebdc.com
Media Prosek Partners Josh Clarkson / Devin Shorey
646-818-9259 / 302-593-3197 jclarkson@prosek.com
Palmer Square Capital BDC (NYSE:PSBD)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Palmer Square Capital BDC (NYSE:PSBD)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024