Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when PSBD files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsPalmer Square Capital BDC prices $300M CLO refinancing, lowers senior debt spreads
Filed June 18, 2026 · Period ending June 18, 2026 · ~1 min read
Key Changes
-
high
PSBD priced a $300M CLO refinancing through subsidiary Palmer Square BDC CLO 1, consisting of $228M AAA notes at Term SOFR plus 1.28% and $72M AA notes at Term SOFR plus 1.75%, expected to close July 15, 2026.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
medium
The refinancing extends maturity to July 15, 2039, approximately 13 years beyond the original May 2024 closing date, improving the company's long-term debt profile.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
medium
Notes are secured by a diversified portfolio of senior secured loans with flexibility for second lien loans, corporate bonds, and DIP financing; PSBD retains 100% of subordinated notes and continues as collateral manager.
Item 7.01 — Regulation FD Disclosure verify on EDGAR →
Summary
Palmer Square Capital BDC announced pricing of a $300 million CLO refinancing through its wholly-owned subsidiary Palmer Square BDC CLO 1. The transaction resets the terms of an existing debt securitization originally closed in May 2024, with the new structure consisting of $228 million AAA-rated Class A notes at Term SOFR plus 1.28% and $72 million AA-rated Class B notes at Term SOFR plus 1.75%.
The refinancing is expected to close on July 15, 2026. For retail holders, this refinancing represents a routine liability management exercise that extends the company's debt maturity profile to 2039 while maintaining secured financing backed by a diversified portfolio of senior secured loans. The spreads reflect current market conditions for highly-rated CLO debt.
PSBD retains 100% of the subordinated notes and continues as collateral manager, maintaining its economic interest in the underlying portfolio. The transaction does not change the company's investment strategy or risk profile, but does provide longer-term financing stability for its lending operations.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On June 18, 2026, Palmer Square Capital BDC Inc. (the “Company”), through Palmer Square BDC CLO 1, Ltd. (the “Issuer”), an exempted company incorporated with limited liability under the laws of the Cayman Islands and a wholly-owned indirect subsidiary of the Company, priced its refinancing of a $300.00 million term debt securitization (the “CLO Reset Transaction”). The CLO Reset Transaction is expected to close on July 15, 2026 (the “Refinancing Date”).
PSBD announced pricing of a $300 million CLO refinancing through its wholly-owned subsidiary Palmer Square BDC CLO 1, Ltd. The transaction is expected to close on July 15, 2026. This refinancing resets the terms of an existing debt securitization originally closed on May 23, 2024.
Added in current filing · verify on EDGAR →
The CLO Reset Transaction is expected to be executed through a private placement of the following Palmer Square BDC CLO 1 Secured Notes: $228.00 million of AAA Class A Notes, which will bear interest at the forward-looking term rate based on the secured overnight financing rate (“Term SOFR”) plus 1.28%; and $72.00 million of AA Class B Notes, which will bear interest at Term SOFR plus 1.75%.
The refinancing consists of $228 million AAA-rated Class A notes at Term SOFR plus 1.28% and $72 million AA-rated Class B notes at Term SOFR plus 1.75%. These spreads represent the cost of the company's secured debt financing. The company retains 100% of the subordinated notes and continues as collateral manager.
Added in current filing · verify on EDGAR → · paraphrased
The Palmer Square BDC CLO 1 Secured Notes are secured by a diversified portfolio of the Issuer consisting of senior secured loans or participation interests therein with the potential for investment in second lien loans or participation interests therein, corporate bonds or loans made to a debtor-in-possession pursuant to Section 364 of the Bankruptcy Code having the priority allowed by either Section 364(c) or 364(d) of the Bankruptcy Code and fully secured by senior liens or participation interests therein.
The notes are backed by a diversified portfolio primarily of senior secured loans, with flexibility to invest in second lien loans, corporate bonds, and DIP financing. This collateral structure supports the investment strategy of the BDC and provides security to noteholders.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jun 23, 2026 · How we verify