Chicago, March 27 – Apogem Capital LLC sold $421.09 million in a collateralized loan obligation being issued by MCF CLO 10 Ltd./MCF CLO 10 LLC, according to a presale report.
The notes will mature on April 15, 2035.
The CLO consists of $3.4 million of class X senior secured floating-rate notes at SOFR plus 210 basis points, $190 million of class A senior secured floating-rate notes at SOFR plus 240 bps, $50 million of class A-L senior secured floating-rate notes at SOFR plus 240 bps, $48.5 million of class B senior secured floating-rate notes at SOFR plus 350 bps, $31.5 million of class C senior secured deferrable floating-rate notes at SOFR plus 420 bps, $25.2 million of class D senior secured deferrable floating-rate notes at SOFR plus 640 bps, $25.3 million of class E senior secured deferrable floating-rate notes at SOFR plus 1,023 bps and $47.19 million of subordinated notes.
Apogem Capital LLC will manage the collateral through the end of the reinvestment period on April 15, 2027.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting April 15, 2025.
SMBC Nikko Securities America Inc. was the placement agent.
Apogem, formerly known as Madison Capital Funding LLC, is a Chicago-based middle-market finance company and subsidiary of New York Life Insurance Co.
| Issuer: | MCF CLO 10 Ltd./MCF CLO 10 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $421.09 million
|
| Maturity: | April 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | SMBC Nikko Securities America Inc.
|
| Manager: | Apogem Capital LLC
|
| Call feature: | April 15, 2025
|
| Settlement date: | March 24
|
|
|
| Class X notes
|
| Amount: | $3.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $190 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L notes
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $48.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $31.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 420 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $25.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 640 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $25.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 1,023 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $47.19 million
|
| Securities: | Subordinated notes
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
