Chicago, June 14 – ICG Debt Advisors LLC sold $339.175 million in a collateralized loan obligation being issued by ICG US CLO 2022-1(i) Ltd./ICG US CLO 2022-1(i) LLC, according to a presale report.
The notes will mature on July 20, 2035.
The CLO consists of $120 million of class A1 senior secured floating-rate notes at SOFR plus 154 basis points, $75 million of class A1 senior secured floating-rate loans at SOFR plus 154 bps, $20 million of class AF 4.1% senior secured fixed-rate notes, $5.375 million of class B1 senior secured floating-rate notes at SOFR plus 245 bps, $35 million of class BF 4.99% senior secured fixed-rate notes, $20.125 million of class C senior secured deferrable floating-rate notes at SOFR plus 300 bps, $15 million of class D1 senior secured deferrable floating-rate notes at SOFR plus 406 bps, $5.125 million of class DJ senior secured deferrable floating-rate notes at SOFR plus 573 bps, $11.75 million of class E senior secured deferrable floating-rate notes at SOFR plus 810 bps and $31.8 million of subordinated notes.
ICG Debt Advisors LLC will manage the collateral through the end of the reinvestment period on July 20, 2025.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans
The notes can be called starting July 20, 2023.
Jefferies LLC was the placement agent.
The firm is a subsidiary of London-based parent company Intermediate Capital Group plc.
| Issuer: | ICG US CLO 2022-1(i) Ltd./ICG US CLO 2022-1(i) LLC
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| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
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| Amount: | $339.175 million
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| Maturity: | July 20, 2035
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| Structure: | Cash flow CLO
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| Placement agent: | Jefferies LLC
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| Manager: | ICG Debt Advisors LLC
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| Call feature: | July 20, 2023
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| Settlement date: | June 22
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|
| Class A1 notes
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| Amount: | $120 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 154 bps
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| Rating: | S&P: AAA
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|
|
| Class A1 loans
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| Amount: | $75 million
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| Securities: | Senior secured floating-rate loans
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| Coupon: | SOFR plus 154 bps
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| Rating: | S&P: AAA
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|
|
| Class AF notes
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| Amount: | $20 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 4.1%
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| Rating: | S&P: AAA
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|
|
| Class B1 notes
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| Amount: | $5.375 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 245 bps
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| Rating: | S&P: AA
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|
| Class BF notes
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| Amount: | $35 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 4.99%
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| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $20.125 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 300 bps
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| Rating: | S&P: A
|
|
|
| Class D1 notes
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| Amount: | $15 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 406 bps
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| Rating: | S&P: BBB
|
|
|
| Class DJ notes
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| Amount: | $5.125 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 573 bps
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| Rating: | S&P: BBB-
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|
| Class E notes
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| Amount: | $11.75 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 810 bps
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| Rating: | S&P: BB-
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|
|
| Subordinated notes
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| Amount: | $31.8 million
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| Securities: | Subordinated notes
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