Chicago, April 20 – Assured Investment Management LLC sold $503.4 million in a collateralized loan obligation being issued by BlueMountain CLO XXXIV Ltd./BlueMountain CLO XXXIV LLC, according to a presale report.
The notes will mature on April 20, 2035.
The CLO consists of $315 million of class A senior secured floating-rate notes at SOFR plus 136 basis points, $47 million of class B-1 senior secured floating-rate notes at SOFR plus 205 bps, $18 million of class B-2 4.01% senior secured fixed-rate notes, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 240 bps, $30 million of class D senior secured deferrable floating-rate notes at SOFR plus 375 bps, $20 million of class E senior secured deferrable floating-rate notes at SOFR plus 755 bps and $43.4 million of subordinated notes.
Assured Investment Management LLC will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2024.
Citigroup Global Markets Inc. was the placement agent.
Assured Investment Management is the New York-based institutional asset management business of Assured Guaranty.
| Issuer: | BlueMountain CLO XXXIV Ltd./BlueMountain CLO XXXIV LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $503.4 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Assured Investment Management LLC
|
| Call feature: | April 20, 2024
|
| Settlement date: | April 28
|
|
|
| Class A notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 136 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $47 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $18 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.01%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 755 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $43.4 million
|
| Securities: | Subordinated notes
|
|
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