Chicago, April 21 – Sculptor Loan Management LP refinanced all of the senior secured classes of notes from the OZLM XXIII, Ltd./OZLM XXIII, LLC collateralized loan obligation transaction, according to a notice.
The refinancing notes, which have been extended to now mature April 17, 2034, are the $3 million of class X senior secured floating-rate notes at Libor plus 90 bps, $320 million of class A-R senior secured floating-rate notes at Libor plus 125 bps, $37.65 million of class B-1-R senior secured floating-rate notes at Libor plus 185 bps and $22.35 million of class B-2-R 3.42% senior secured fixed-rate notes.
Additionally, there are $23.75 million of class C-R senior secured deferrable floating-rate notes at Libor plus 250 bps, $30 million of class D-R senior secured deferrable floating-rate notes at Libor plus 375 bps and $26.25 million of class E-R senior secured deferrable floating-rate notes at Libor plus 728 bps.
Originally, the transaction had $320 million of class A floating-rate notes at Libor plus 147 bps; $17.35 million of class B-1 floating-rate notes at Libor plus 210 bps; $32.65 million of 4.46% class B-2 fixed-rate notes; $25 million of class C floating-rate notes at Libor plus 285 bps; $31.25 million of class D floating-rate notes at Libor plus 390 bps; $28.75 million of class E floating-rate notes at Libor plus 680 bps and $50,425,000 of subordinated notes.
The subordinated notes are still part of the structure and remain outstanding.
The non-call period has been extended.
Sculptor Loan Management LP will manage the collateral through the recently extended five-year reinvestment period.
The CLO was originally issued by Och-Ziff Loan Management LP prior to the name change.
Sculptor is a New York City-based alternative asset management firm.
| Issuer: | OZLM XXIII, Ltd./OZLM XXIII, LLC
|
| Issue: | Floating-rate and fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | $463 million
|
| Maturity: | April 17, 2034
|
| Manager: | Sculptor Loan Management LP
|
| Announcement date: | April 15
|
|
|
| Class X notes
|
| Amount: | $3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 90 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-R notes
|
| Amount: | $320 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1-R notes
|
| Amount: | $37.65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2-R notes
|
| Amount: | $22.35 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.42%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-R notes
|
| Amount: | $23.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-R notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 375 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E-R notes
|
| Amount: | $26.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 728 bps
|
| Rating: | Moody's: Ba3
|
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