Chicago, Nov. 15 – Sculptor Loan Management, LP conducted a third refinancing for $347.42 million for a collateralized loan obligation issued by OZLM XIV, Ltd./OZLM XIV LLC, according to a supplemental indenture.
The notes will now mature on July 2034.
The refinanced CLO consists of $1 million of class X senior secured floating-rate notes at Libor plus 100 basis points, $201.5 million of class A-1 Sr senior secured floating-rate notes at Libor plus 125 bps, $9.75 million of class A-1 Jr senior secured floating-rate notes at Libor plus 155 bps, $32.5 million of class A-2RR senior secured floating-rate notes at Libor plus 185 bps, $16.25 million of class B-RR senior secured deferrable floating-rate notes at Libor plus 240 bps, $19.5 million of class C-RR senior secured deferrable floating-rate notes at Libor plus 339 bps, $19.5 million of class D-RR senior secured deferrable floating-rate notes at Libor plus 701 bps and $47.42 million of subordinated notes.
Sculptor Loan Management, LP will manage the collateral through the end of the reinvestment period in July 2026.
The notes are collateralized by first-lien senior secured loans and eligible investments.
The notes can be called starting July 2023.
Jefferies LLC was the placement agent.
The firm, an affiliate of New York City-based alternative asset manager Och-Ziff Capital Management Group Inc. now Sculptor Capital Management, Inc.
| Issuer: | OZLM XIV, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $347.42 million
|
| Maturity: | July 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Sculptor Loan Management, LP
|
| Call feature: | July 2023
|
| Settlement date: | July 15
|
|
|
| Class X notes
|
| Amount: | $1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 Sr notes
|
| Amount: | $201.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 Jr notes
|
| Amount: | $9.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2RR notes
|
| Amount: | $32.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-RR notes
|
| Amount: | $16.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | Moody's: A2
|
|
|
| Class C-RR notes
|
| Amount: | $19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 339 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class D-RR notes
|
| Amount: | $19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 701 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $47.42 million
|
| Securities: | Subordinated notes
|
|
|
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