Chicago, Feb. 26 – TCW Asset Management Co. LLC sold $406.4 million in a collateralized loan obligation being issued by TCW CLO 2024-1 Ltd./TCW CLO 2024-1 LLC, according to a presale report.
The notes will mature on Jan. 16, 2037.
The CLO consists of $4 million of class X senior secured floating-rate notes at SOFR plus 135 basis points, $248 million of class A-1 senior secured floating-rate notes at SOFR plus 160 bps, $12 million of class A-J senior secured floating-rate notes at SOFR plus 180 bps, $34 million of class B-1 senior secured floating-rate notes at SOFR plus 205 bps, $10 million of class B-F 5.78% senior secured fixed-rate notes, $21 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 255 bps, $3 million of class C-F 6.29% senior secured deferrable fixed-rate notes, $14 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 400 bps, $10 million of class D-F 7.79% senior secured deferrable fixed-rate notes, $4 million of class D-J senior secured deferrable floating-rate notes at SOFR plus 525 bps, $12 million of class E senior secured deferrable floating-rate notes at SOFR plus 709 bps and $34.4 million of subordinated notes.
TCW Asset Management Co. LLC will manage the collateral through the end of the reinvestment period on Jan. 16, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 16, 2026.
Jefferies LLC was the placement agent.
TCW Asset Management is a subsidiary of TCW Group Inc.
| Issuer: | TCW CLO 2024-1 Ltd./TCW CLO 2024-1 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $406.4 million
|
| Maturity: | Jan. 16, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | TCW Asset Management Co. LLC
|
| Call feature: | Jan. 16, 2026
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 26
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 135 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 160 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-J notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-F notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.78%
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | S&P: A
|
|
|
| Class C-F notes
|
| Amount: | $3 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 6.29%
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-F notes
|
| Amount: | $10 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 7.79%
|
| Rating: | S&P: BBB
|
|
|
| Class D-J notes
|
| Amount: | $4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 525 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 709 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $34.4 million
|
| Securities: | Subordinated notes
|
|
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