Chicago, Feb. 19 – Sixth Street CLO XVII Management LLC priced $429.75 million of notes in a broadly syndicated collateralized loan obligation transaction due Jan. 20, 2034 being issued by Sixth Street CLO XVII Ltd./Sixth Street CLO XVII LLC, according to a report.
The portfolio has $263.5 million of class A floating-rate notes at Libor plus 124 basis points and $59.5 million of class B floating-rate notes at Libor plus 155 bps.
There are also $23.375 million of class C deferrable floating-rate notes at Libor plus 210 bps, $25.5 million of class D deferrable floating-rate notes at Libor plus 315 bps and $14.875 million of class E deferrable floating-rate notes at Libor plus 620 bps.
Additionally, there are $43 million of subordinated notes.
The CLO has as collateral senior secured loans, cash and eligible investments with at least 80% of the borrowers based in the United States.
Sixth Street will manage the notes through the end of the reinvestment period on April 20, 2026.
The notes cannot be called until Jan. 20, 2023.
Goldman Sachs & Co. LLC is the placement agent.
Sixth Street is a global investment firm based in San Francisco.
Issuers: | Sixth Street CLO XVII Ltd./Sixth Street CLO XVII LLC
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Amount: | $429.75 million
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Maturity: | Jan. 20, 2034
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Securities: | Floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | Goldman Sachs & Co. LLC
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Manager: | Sixth Street CLO XVII Management LLC
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Call: | Jan. 20, 2023
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Pricing date: | Feb. 19
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Settlement date: | March 3
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Class A notes
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Amount: | $263.5 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 124 bps
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Rating: | S&P: AAA
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Class B notes
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Amount: | $59.5 million
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Securities: | Floating-rate notes
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Coupon: | Libor plus 155 bps
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Rating: | S&P: AA
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Class C notes
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Amount: | $23.375 million
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Securities: | Deferrable floating-rate notes
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Coupon: | Libor plus 210 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $25.5 million
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Securities: | Deferrable floating-rate notes
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Coupon: | Libor plus 315 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $14.875 million
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Securities: | Deferrable floating-rate notes
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Coupon: | Libor plus 620 bps
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $43 million
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Securities: | Subordinated notes
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Rating: | S&P: NR
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