Chicago, May 25 – BlackRock Capital Investment Advisors LLC sold $453.75 million in a collateralized loan obligation being issued by BlackRock Mt. Hood CLO X LLC, according to a presale report.
The notes will mature on April 20, 2035.
The CLO consists of $21.25 million of class X senior secured floating-rate notes at SOFR plus 205 basis points, $158.25 million of class A-1 senior secured floating-rate notes at SOFR plus 250 bps, $22 million of class A-2 5.9% senior secured fixed-rate notes, $30 million of class A-L1 senior secured floating-rate loans at SOFR plus 250 bps, $30 million of class A-L2b senior secured floating-rate loans at SOFR plus 250 bps, $22.125 million of class B-1 senior secured floating-rate notes at SOFR plus 360 bps, $20.375 million of class B-2 6.91% senior secured fixed-rate notes, $42.5 million of class C senior secured deferrable floating-rate notes at SOFR plus 465 bps, $21.25 million of class D senior secured deferrable floating-rate notes at SOFR plus 656 bps, $29 million of class E senior secured deferrable floating-rate notes at SOFR plus 1,004 bps, $ million of class senior deferrable floating-rate notes at SOFR plus bps, $ million of class senior deferrable floating-rate notes at SOFR plus bps, and$57 million of variable dividend notes.
The class X notes are expected to be paid down with interest proceeds during the first 14 payment dates in equal installments of $1.52 million.
The class A-L2b loans are delayed-draw loans.
BlackRock Capital Investment Advisors LLC will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting April 20, 2025.
Morgan Stanley & Co. LLC and SG Americas Securities LLC are the placement agents.
BlackRock is an investment management firm, a subsidiary of BlackRock Advisors LLC.
| Issuer: | BlackRock Mt. Hood CLO X LLC
|
| Issue: | Floating-rate notes, fixed-rate notes, floating-rate loans and variable dividend notes
|
| Amount: | $453.75 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agents: | Morgan Stanley & Co. LLC and SG Americas Securities LLC
|
| Manager: | BlackRock Capital Investment Advisors LLC
|
| Call feature: | April 20, 2025
|
| Settlement date: | May 25
|
|
|
| Class X notes
|
| Amount: | $21.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $158.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
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| Amount: | $22 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.9%
|
| Rating: | S&P: AAA
|
|
|
| Class A-L1 loans
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| Amount: | $30 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L2b loans
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| Amount: | $30 million
|
| Securities: | Senior secured floating-rate delayed-draw loans
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
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| Amount: | $22.125 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $20.375 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.91%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $42.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 465 bps
|
| Rating: | S&P: A-
|
|
|
| Class D notes
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| Amount: | $21.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 656 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $29 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 1,004 bps
|
| Rating: | S&P: BB-
|
|
|
| Variable dividend notes
|
| Amount: | $57 million
|
| Securities: | Variable dividend notes
|
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