Chicago, Feb. 29 – Audax Management Co. (NY) LLC sold $606.36 million in a collateralized loan obligation being issued by Audax Senior Debt CLO 9 LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $348 million of class A-1 senior secured floating-rate notes at SOFR plus 210 basis points, $24 million of class A-2 senior secured floating-rate notes at SOFR plus 240 bps, $36 million of class B senior secured floating-rate notes at SOFR plus 265 bps, $48 million of class C senior secured deferrable floating-rate notes at SOFR plus 330 bps, $36 million of class D senior secured deferrable floating-rate notes at SOFR plus 520 bps, $36 million of class E senior secured deferrable floating-rate notes at SOFR plus 800 bps and $78.36 million of subordinated notes.
Audax Management Company (NY) LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of broadly syndicated and middle-market speculative-grade senior secured term loans.
The notes can be called starting 46132.
Wells Fargo Securities LLC was the placement agent.
The private equity firm is part of Boston-based middle-market investment firm Audax Group, Inc.
| Issuer: | Audax Senior Debt CLO 9 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $606,356,000
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities LLC
|
| Manager: | Audax Management Co. (NY) LLC
|
| Call feature: | 46132
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 15
|
|
|
| Class A-1 notes
|
| Amount: | $348 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $24 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $48 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 330 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 520 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 800 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $78,356,000
|
| Securities: | Subordinated notes
|
|
|
|
|
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