Chicago, Jan. 13 – NCC CLO Manager LLC sold $343 million in a collateralized loan obligation issued by Nassau 2022-I Ltd. and Nassau 2022-I LLC, according to multiple press releases.
The notes will mature on Jan. 15, 2031.
The CLO consists of $210 million of class A-1 senior secured floating-rate notes at SOFR plus 213 basis points, $24.5 million of class A-2 senior secured floating-rate notes at SOFR plus 325 bps, $31.5 million of class B senior secured floating-rate notes at SOFR plus 362 bps, $27 million of class C senior secured deferrable floating-rate notes at SOFR plus 450 bps, $19 million of class D 10.25% senior secured deferrable fixed-rate notes, $10 million of class E secured deferrable floating-rate notes at SOFR plus 870 bps and $21 million of subordinated notes.
NCC CLO Manager LLC will manage the collateral.
The CLO is static. There is no reinvestment period.
Collateral for the notes consists of first-lien senior secured loans.
NCC CLO Manager is an adviser of Darien, Conn.-based Nassau Corporate Credit LLC.
| Issuer: | Nassau 2022-I Ltd. and Nassau 2022-I LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $343 million
|
| Maturity: | Jan. 15, 2031
|
| Structure: | Cash flow CLO
|
| Manager: | NCC CLO Manager LLC
|
| Settlement date: | Jan. 11
|
|
|
| Class A-1 notes
|
| Amount: | $210 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 213 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $24.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $31.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 362 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 450 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $19 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 10.25%
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $10 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 870 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $21 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.
