Chicago, July 22 – Sixth Street CLO XIX Management LLC priced a new $458.6 million broadly syndicated collateralized loan obligation that lists Sixth Street CLO XIX Ltd./Sixth Street CLO XIX LLC as co-issuers, according to a pre-sale report.
The maturity date for the deal is July 20, 2034.
The portfolio includes $136.7 million of class A senior secured floating-rate notes at Libor plus 110 basis points, $142.3 million of an A-L class A-L also at Libor plus 110 bps, $63 million of class B senior secured floating-rate notes at Libor plus 170 bps, $27 million of class C senior secured deferrable floating-rate notes at Libor plus 200 bps, $27 million of class D senior secured deferrable floating-rate notes at Libor plus 300 bps and $15.75 million of class E senior secured deferrable floating-rate notes at Libor plus 590 bps.
Lower, there are $46.85 million of subordinated notes.
J.P. Morgan Securities LLC is the placement agent.
The collateral manager is Sixth Street. Sixth Street will manage the pool of broadly syndicated speculative-grade senior secured term loans through the end of the reinvestment period on July 20, 2026.
The notes can be called started July 20, 2023.
Sixth Street is a global investment firm based in San Francisco.
| Issuers: | Sixth Street CLO XIX Ltd./Sixth Street CLO XIX LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $458.6 million
|
| Maturity: | July 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Sixth Street CLO XIX Management LLC
|
| Call feature: | July 20, 2023
|
| Settlement date: | July 8
|
|
|
| Class A notes
|
| Amount: | $136.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 110 bps
|
| Rating: | Moody's: AAA
|
|
|
| Class A-L
|
| Amount: | $142.3 million
|
| Securities: | Senior secured floating-rate
|
| Coupon: | Libor plus 110 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $63 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $15.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 590 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $46.85 million
|
| Securities: | Subordinated notes
|
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