Chicago, June 10 – Sculptor Loan Management LP sold a new $405.74 million offering of collateralized loan obligation notes issued by Sculptor CLO XXVI Ltd./Sculptor CLO XXVI LLC, according to a pre-sale report.
The notes mature on July 20, 2034.
The transaction includes $248 million of class A senior secured floating-rate notes at Libor plus 127 basis points and $56 million of class B senior secured floating-rate notes at Libor plus 190 bps.
Also priced were $24 million of class C senior secured deferrable floating-rate notes at Libor plus 250 bps, $16 million of class D-1 senior secured deferrable floating-rate notes at Libor plus 340 bps, $8 million of class D-2 5.91% senior secured deferrable fixed-rate notes, $16 million of class E senior secured deferrable floating-rate notes at Libor plus 725 bps and $37.74 million of subordinated notes.
Sculptor Loan will select the collateral, primarily senior secured loans, cash and eligible investments with most borrowers based in the United States or Canada.
The reinvestment period ends July 20, 2026.
The notes can be called after July 20, 2023.
Citigroup Global Markets Inc. is the initial purchaser.
The New York-based firm is part of Sculptor Capital Management, Inc.
| Issuers: | Sculptor CLO XXVI Ltd./Sculptor CLO XXVI LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $405.74 million
|
| Maturity: | July 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Sculptor Loan Management LP
|
| Call feature: | July 20, 2023
|
| Settlement date: | June 7
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 127 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 5.91%
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 725 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $37.74 million
|
| Securities: | Subordinated notes
|
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