Chicago, April 14 – Greywolf Loan Management LP refinanced and extended for $542.03 million the Greywolf CLO II, Ltd./Greywolf CLO II, LLC broadly syndicated collateral loan obligation transaction, according to a pre-sale report.
The CLO now carries an April 15, 2034 maturity date, extended from Oct. 15, 2029, according to a previous story about the CLO.
The portfolio is now $3 million of class X senior secured floating-rate notes at Libor plus 100 basis points, $300 million of class A-1S senior secured floating-rate notes at Libor plus 114 bps, $15 million of class A-2J senior secured floating-rate notes at Libor plus 135 bps, $43 million of class A2-a senior secured floating-rate notes at Libor plus 160 bps and $22 million of class A2-b 2.94% senior secured fixed-rate notes.
Farther down, there are $20 million of class B-1 senior secured deferrable floating-rate notes at Libor plus 230 bps, $10 million of class B-2 3.77% senior secured deferrable fixed-rate notes,$17.5 million of class C-1 senior secured deferrable floating-rate notes at Libor plus 335 bps, $12.5 million of class C-2 senior secured deferrable floating-rate notes at Libor plus 420 bps, $16.25 million of class D senior secured deferrable floating-rate notes at Libor plus 705 bps and $82.78 million of subordinated notes.
Previously, the transaction had been refinanced to include $3.5 million of class X senior secured floating-rate notes at Libor plus 70 bps; $248 million of class A-1-R senior secured floating-rate notes at Libor plus 123 bps; $46.5 million of class A-2-R senior secured floating-rate notes at Libor plus 170 bps; $33.3 million of class B-R senior secured deferrable floating-rate notes at Libor plus 215 bps; $21.8 million of class C-R senior secured deferrable floating-rate notes at Libor plus 305 bps; $18.4 million of class D-R secured deferrable floating-rate notes at Libor plus 635 bps and $53.5 million of class B subordinated notes.
Originally, in the initial pricing on March 28, 2013 there were $250 million of class A-1 notes at Libor plus 115 bps; $44.1 million of class A-2 notes at Libor plus 193 bps; $34.5 million of class B notes at Libor plus 270 bps; $19.7 million of class C notes at Libor plus 383 bps; $17 million of class D notes at Libor plus 470 bps and two tranches of subordinated notes that included $10.1 million of class A subordinated notes and $37.5 million of class B subordinated notes.
Goldman, Sachs, & Co. LLC has been hired as placement agent.
Greywolf Loan Management is the collateral manager. The reinvestment period ends April 15, 2026.
The notes can be called after April 15, 2023.
The investment management firm is based in Purchase, N.Y.
| Issuers: | Greywolf CLO II, Ltd./Greywolf CLO II, LLC
|
| Issue: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | $542.03 million
|
| Maturity: | April 15, 2034
|
| Agent: | Goldman, Sachs, & Co. LLC
|
| Manager: | Greywolf Loan Management LP
|
| Call: | April 15, 2023
|
| Announcement date: | April 13
|
| Settlement date: | April 15
|
|
|
| Class X notes
|
| Amount: | $3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1S notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 114 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2J notes
|
| Amount: | $15 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A2-a notes
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| Amount: | $43 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class A2-b notes
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| Amount: | $22 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.94%
|
| Rating: | S&P: AA
|
|
|
| Class B-1 notes
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| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Rating: | S&P: A
|
|
|
| Class B-2 notes
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| Amount: | $10 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 3.77%
|
| Rating: | S&P: A
|
|
|
| Class C-1 notes
|
| Amount: | $17.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 335 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class C-2 notes
|
| Amount: | $12.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 420 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D notes
|
| Amount: | $16.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 705 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $82.78 million
|
| Securities: | Subordinated notes
|
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