Chicago, Jan. 3 – Rockford Tower Capital Management LLC sold $395.5 million in a collateralized loan obligation being issued by Rockford Tower CLO 2022-3 Ltd./Rockford Tower CLO 2022-3 LLC, according to a presale report.
The notes will mature on Jan. 20, 2035.
The CLO consists of $248 million of class A senior secured floating-rate notes at SOFR plus 235 basis points, $41 million of class B-1 senior secured floating-rate notes at SOFR plus 315 bps, $15 million of class B-2 6.35% senior secured fixed-rate notes, $18 million of class C senior secured deferrable floating-rate notes at SOFR plus 405 bps, $26 million of class D senior secured deferrable floating-rate notes at SOFR plus 596 bps, $12 million of class E senior secured deferrable floating-rate notes at SOFR plus 870 bps and $35.5 million of subordinated notes.
Rockford Tower Capital Management LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 20, 2035.
BofA Securities Inc. was the placement agent.
Rockford Tower Capital Management is a Dover, Del., limited liability company.
| Issuer: | Rockford Tower CLO 2022-3 Ltd./Rockford Tower CLO 2022-3 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $395.5 million
|
| Maturity: | Jan. 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Rockford Tower Capital Management LLC
|
| Call feature: | Jan. 20, 2035
|
| Settlement date: | Jan. 9
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 235 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $41 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.35%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 405 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 596 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 870 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $35.5 million
|
| Securities: | Subordinated notes
|
|
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