Chicago, Jan. 20 – Cerberus Business Finance, LLC closed on $576.3 million in a collateralized loan obligation issued by Cerberus Loan Funding XXXIX LP, according to a presale report.
The notes will mature in January 2033.
The CLO consists of $345 million of class A senior secured floating-rate notes at SOFR plus 240 basis points, $23 million of class B senior secured floating-rate notes at SOFR plus 360 bps, $57.5 million of class C secured deferrable floating-rate notes at SOFR plus 525 bps and $150.8 million of partnership interests.
Cerberus Business Finance, LLC will manage the collateral through the end of the six-month reinvestment period.
Collateral for the notes consists of non-investment-grade SME loans.
The notes can be called starting July 2024.
Wells Fargo Securities, LLC was the placement agent.
The private equity firm is based in New York.
| Issuer: | Cerberus Loan Funding XXXIX LP
|
| Issue: | Floating-rate notes and partnership interests
|
| Amount: | $576.3 million
|
| Maturity: | January 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities, LLC
|
| Manager: | Cerberus Business Finance, LLC
|
| Call feature: | July 2024
|
| Settlement date: | Jan. 20
|
|
|
| Class A notes
|
| Amount: | $345 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $23 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C notes
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| Amount: | $57.5 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 525 bps
|
| Rating: | Moody's: A3
|
|
|
| Partnership interests
|
| Amount: | $150.8 million
|
| Securities: | Partnership interests
|
|
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