Chicago, May 28 – Audax Management Co. (NY) LLC refinanced for $517.06 million the CLO deal that lists Audax Senior Debt CLO I LLC as issuer, according to a notice.
The maturity date is April 22, 2033.
The refinancing portfolio has $310.5 million of class A senior secured floating-rate loans at Libor plus 160 basis points, $34.5 million of class A-R senior secured floating-rate notes at Libor plus 160 bps, $35 million of class B-R senior secured deferrable floating-rate notes at Libor plus 275 bps and $25 million of class C-R senior secured deferrable floating-rate notes at Libor plus 410 bps.
There are also $112.06 million in interest notes.
The original portfolio had $310.5 million of class A loans at Libor plus 195 bps, $34.5 million of class A floating-rate notes at Libor plus 195 bps, $35 million of class B floating-rate notes at Libor plus 380 bps, $7.5 million of 6.063% class C fixed-rate notes and $112.06 million of interest notes.
Wells Fargo Securities LLC is the initial purchaser.
Audax Management will continue to manage collateral through the extended reinvestment period ending on April 22, 2025.
The notes can be called after April 22, 2023.
Collateral consists of broadly syndicated and middle-market speculative-grade senior secured term loans.
Audax Management Co. (NY) is a private equity firm and part of Boston-based middle-market investment firm Audax Group, Inc.
| Issuer: | Audax Senior Debt CLO I LLC
|
| Issue: | Floating-rate loans, floating-rate notes and interest notes
|
| Amount: | $517.06 million
|
| Maturity: | April 22, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities LLC
|
| Manager: | Audax Management Co. (NY) LLC
|
| Call feature: | April 22, 2023
|
| Settlement date: | May 7
|
|
|
| Class A notes
|
| Amount: | $310.5 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class A-R notes
|
| Amount: | $34.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-R notes
|
| Amount: | $35 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 275 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 410 bps
|
| Rating: | S&P: BBB-
|
|
|
| Interest notes
|
| Amount: | $112.06 million
|
| Securities: | Interest notes
|
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