Chicago, Jan. 26 – FCOD CLO Management LLC sold $396 million in a collateralized loan obligation being issued by Fortress Credit Opportunities XXI CLO LLC, according to a presale report.
The notes will mature on Jan. 21, 2035.
The CLO consists of $54 million of class A-R senior secured floating-rate notes at SOFR plus 265 basis points, $162 million of class A-T senior secured floating-rate notes at SOFR plus 265 bps, $28 million of class B senior secured floating-rate notes at SOFR plus 390 bps, $32 million of class C senior secured deferrable floating-rate notes at SOFR plus 490 bps, $32 million of class D senior secured deferrable floating-rate notes at SOFR plus 700 bps, $24 million of class E senior secured deferrable floating-rate notes at SOFR plus 812 bps and $64 million of subordinated notes.
FCOD CLO Management LLC will manage the collateral through the end of the reinvestment period on Jan. 21, 2027.
Collateral for the notes consists of speculative-grade senior secured term loans.
The notes can be called starting Jan. 21, 2025.
Natixis Securities Americas LLC was the placement agent.
Fortress Credit Opportunities is a securities asset fund based in Las Vegas.
| Issuer: | Fortress Credit Opportunities XXI CLO LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $396 million
|
| Maturity: | Jan. 21, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | FCOD CLO Management LLC
|
| Call feature: | Jan. 21, 2025
|
| Settlement date: | Feb. 8
|
|
|
| Class A-R notes
|
| Amount: | $54 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-T notes
|
| Amount: | $162 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $28 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 490 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 700 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 812 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $64 million
|
| Securities: | Subordinated notes
|
|
|
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