Chicago, Jan. 25 – Assured Investment Management, LLC sold $406.8 million in a collateralized loan obligation being issued by BlueMountain CLO XXXIII Ltd., according to a pre-sale report.
The notes will mature on Nov. 20, 2034.
The CLO consists of $252 million of class A senior secured floating-rate notes at Libor plus 119 basis points, $52 million of class B senior secured floating-rate notes at Libor plus 170 bps, $24 million of class C senior secured floating-rate notes at Libor plus 210 bps, $24 million of class D senior secured deferrable floating-rate notes at Libor plus 350 bps, $16 million of class E senior secured deferrable floating-rate notes at Libor plus 683 bps and $38.8 million of subordinated notes.
Assured Investment Management, LLC will manage the collateral through the end of the five-year reinvestment period.
Backing the notes is a portfolio of broadly syndicated senior secured corporate loans.
Deutsche Bank Securities Inc. was the placement agent.
Assured Investment Management is the New York-based institutional asset management business of Assured Guaranty.
| Issuer: | BlueMountain CLO XXXIII Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $406.8 million
|
| Maturity: | Nov. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Assured Investment Management, LLC
|
| Settlement date: | Oct. 28
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 119 bps
|
| Rating: | Moody’s: Aaa
|
| Fitch: NR
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Moody's: NR
|
| Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | Moody's: NR
|
| Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 350 bps
|
| Rating: | Moody's: NR
|
| Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 683 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: NR
|
|
|
| Subordinated notes
|
| Amount: | $38.8 million
|
| Securities: | Subordinated notes
|
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