Chicago, Sept. 23 – Fort Washington Investment Advisors Inc. sold $503.53 million in a collateralized loan obligation being issued by Fort Washington CLO 2021-2 Ltd./Fort Washington CLO 2021-2 LLC, according to a pre-sale report.
The notes will mature on Oct. 20, 2034.
The CLO consists of $315 million of class A senior secured floating-rate notes at Libor plus 122 basis points, $65 million of class B senior secured floating-rate notes at Libor plus 175 bps, $30 million of class C senior secured deferrable floating-rate notes at Libor plus 225 bps, $25 million of class D senior secured deferrable floating-rate notes at Libor plus 330 bps, $22.5 million of class E senior secured deferrable floating-rate notes at Libor plus 661 bps and $46.03 million of subordinated notes.
Fort Washington Investment Advisors Inc. will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
Collateralizing the portfolio are senior secured loans, cash and eligible investments with most borrowers based in the United States.
The notes can be called starting Sept. 15, 2023.
J.P. Morgan Securities LLC was the placement agent.
Fort Washington Investment Advisors is a Cincinnati-based asset management firm.
| Issuer: | Fort Washington CLO 2021-2 Ltd./Fort Washington CLO 2021-2 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $503.53 million
|
| Maturity: | Oct. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Fort Washington Investment Advisors Inc.
|
| Call feature: | Sept. 15, 2023
|
| Settlement date: | Sept. 15
|
|
|
| Class A notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 122 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 330 bps
|
| Rating: | S&P: BBB
|
|
|
| Class E notes
|
| Amount: | $22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 661 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $46.03 million
|
| Securities: | Subordinated notes
|
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