Chicago, March 11 – ArrowMark Colorado Holdings LLC has sold a new collateralized loan obligation transaction due April 20, 2032 with Elevation CLO 2021-12 Ltd./Elevation CLO 2021-12 LLC listed as co-issuers, according to a pre-sale report.
The eight-part portfolio has $4 million of class X senior floating-rate notes at Libor plus 80 basis points, $252 million of class A senior floating-rate notes at Libor plus 117 bps and $52 million of class B senior floating-rate notes at Libor plus 160 bps.
In the lower tiers there are $16 million of class C-1 senior deferrable floating-rate notes at Libor plus 200 bps, $8 million of class C-2 senior deferrable floating-rate notes at Libor plus 230 bps, $16 million of class D-1 senior deferrable floating-rate notes at Libor plus 315 bps, $8 million of class D-2 senior deferrable floating-rate notes at Libor plus 465 bps, $14 million of class E senior deferrable floating-rate notes at Libor plus 727 bps.
Additionally, there are $42.19 million of subordinated notes.
Citigroup Global Markets Inc. is the placement agent.
The notes cannot be called before April 20, 2022.
ArrowMark Colorado will manage the collateral of the portfolio through the end of the reinvestment period on April 20, 2024.
Collateral for the notes comes primarily from senior secured loans, cash and eligible investments with the majority of borrowers based in the United States.
The investment management firm is based in Denver.
| Issuers: | Elevation CLO 2021-12 Ltd./Elevation CLO 2021-12 LLC
|
| Issue: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | $504.5 million
|
| Maturity: | April 20, 2032
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | ArrowMark Colorado Holdings LLC
|
| Call: | April 20, 2022
|
| Pricing date: | March 10
|
| Settlement date: | March 25
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 80 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $16 million
|
| Securities: | Senior deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A+
|
|
|
| Class C-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior deferrable floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $16 million
|
| Securities: | Senior deferrable floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior deferrable floating-rate notes
|
| Coupon: | Libor plus 465 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Senior deferrable floating-rate notes
|
| Coupon: | Libor plus 727 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $42.19 million
|
| Securities: | Subordinated notes
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
