Chicago, March 9 – Generate Advisors, LLC reset for $405 million the collateralized loan obligation issued by Generate CLO 6 Ltd., according to multiple press releases.
The notes will mature on Jan. 22, 2035.
The CLO now consists of $248 million of class A-1-R floating-rate notes at Libor plus 120 basis points, $12 million of class A-2-R floating-rate notes at Libor plus 150 bps, $44 million of class B-R floating-rate notes at Libor plus 185 bps, $18.4 million of class C-R deferrable floating-rate notes at Libor plus 245 bps, $24 million of class D-R deferrable floating-rate notes at Libor plus 350 bps, $21.6 million of class E-R deferrable floating-rate notes at Libor plus 680 bps and $37 million of subordinated notes.
The initial benchmark rate is Libor, but there is fallback language in place for SOFR.
The transaction was originally issued under York CLO-6 Ltd./York CLO-6 LLC. In that transaction, the CLO sold $252 million of class A-1 floating-rate notes at Libor plus 135 basis points and $8 million of class A-2 floating-rate notes at Libor plus 185 bps.
The CLO also priced $42 million of class B floating-rate notes at Libor plus 205 bps; $19.2 million of class C floating-rate notes at Libor plus 295 bps; $25.6 million of class D floating-rate notes at Libor plus 400 bps; $21.2 million of class E floating-rate notes at Libor plus 706 bps and $37 million of subordinated notes.
Generate Advisors, LLC will manage the collateral through the end of the five-year reinvestment period on Five years.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Goldman Sachs & Co. LLC was the placement agent.
The manager is a New York City-based firm.
| Issuer: | Generate CLO 6 Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $405 million
|
| Maturity: | Jan. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Generate Advisors, LLC
|
| Settlement date: | Dec. 22, 2021
|
|
|
| Class A-1-R notes
|
| Amount: | $248 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2-R notes
|
| Amount: | $12 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
|
| Amount: | $44 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-R notes
|
| Amount: | $18.4 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 245 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-R notes
|
| Amount: | $24 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 350 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E-R notes
|
| Amount: | $21.6 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 680 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $37 million
|
| Securities: | Subordinated notes
|
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