Chicago, Feb. 19 – Kayne Anderson Capital Advisors, LP priced $507.85 million of notes in a new collateralized loan obligation transaction being issued by Kayne CLO 10 Ltd./Kayne CLO 10 LLC, according to a report.
The notes, maturing April 23, 2026, include $315 million of class A floating-rate notes at Libor plus 117 basis points, $65 million of class B floating-rate notes at Libor plus 140 bps, $30 million of class C deferrable floating-rate notes at Libor plus 175 bps, $30 million of class D deferrable floating-rate notes at Libor plus 275 bps, $18.75 million of class E deferrable floating-rate notes at Libor plus 585 bps and $49.1 million of subordinated notes.
Credit Suisse Securities (USA) LLC is the arranger.
Kayne Anderson Capital will manage the portfolio through the end of the reinvestment period on April 23, 2026.
The notes can be called after March 19, 2023.
The alternative asset management firm is based in Los Angeles.
| Issuer: | Kayne CLO 10 Ltd./Kayne CLO 10 LLC
|
| Amount: | $507.85 million
|
| Maturity: | April 23, 2026
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Kayne Anderson Capital Advisors, LP
|
| Call: | March 19, 2023
|
| Pricing date: | Feb. 19
|
| Settlement date: | March 19
|
|
|
| Class A notes
|
| Amount: | $315 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $65 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 275 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18.75 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 585 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $49.1 million
|
| Securities: | Subordinated notes
|
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