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Garrison Capital completes CLO transaction

GarrisonCapital Inc. completed a $300.0 millioncollateralized loan obligation transaction.

The notes offered in the collateralized loanobligation were issued by unit Garrison Funding 2016-2 Ltd.

The transaction was executed through a private placement of$25.00 million of AAA class A-1R senior secured revolving floating rate notes,which bear interest at the certain CP rate plus 2.20% or the LIBOR plus 2.20%;$88.15 million of AAA class A-1T senior secured floating rate notes, which bearinterest at LIBOR plus 2.20%; $25.00 million of AAA class A-1F senior securedfixed rate notes, which bear interest at 3.41%; $20.70 million of AA class A-2senior secured floating rate notes, which bear interest at LIBOR plus 3.15%;$21.45 million of A class B secured deferrable floating rate notes, which bearinterest at LIBOR plus 4.00%; $11.70 million of BBB class C secured deferrablefloating rate notes, which bear interest at LIBOR plus 6.00%; and $108.00million of subordinated notes, which do not have a stated interest rate.

Garrison Capital retained all of the subordinated notes,which are not rated. The notes are scheduled to mature Sept. 29, 2027.

Part of the proceeds of the private placement of the noteswas used to refinance Garrison Capital's collateralized loan obligation.Garrison Funding will use the remaining proceeds to purchase additionalcollateral obligations.