Chicago, Aug. 18 – Pretium Credit CLO Management LLC refinanced and extended $304.2 million of notes from a collateralized loan obligation originally issued in 2020 by Crown Point CLO 9 Ltd./Crown Point CLO 9 LLC, according to a pre-sale report.
The notes will now mature on July 14, 2034.
The refinanced CLO consists of $185.25 million of class A-R senior secured floating-rate notes at Libor plus 119 basis points, $42.75 million of class B-R senior secured floating-rate notes at Libor plus 185 bps, $16.5 million of class C-R senior secured deferrable floating-rate notes at Libor plus 240 bps, $18 million of class D-R senior secured deferrable floating-rate notes at Libor plus 375 bps, $12.75 million of class E-R senior secured deferrable floating-rate notes at Libor plus 676 bps $28.95 million of subordinated notes.
Pretium Credit CLO Management LLC will manage the collateral through the end of the reinvestment period on July 14, 2026.
The notes can be called starting July 14, 2023.
Morgan Stanley & Co. LLC was the placement agent.
Pretium Credit CLO Management is an investment advisory firm based in New York.
| Issuer: | Crown Point CLO 9 Ltd./Crown Point CLO 9 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $304.2 million
|
| Maturity: | July 14, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Pretium Credit CLO Management LLC
|
| Call feature: | July 14, 2023
|
| Settlement date: | July 28
|
|
|
| Class A-R notes
|
| Amount: | $185.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 119 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $42.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $16.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 375 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $12.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 676 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $28.95 million
|
| Securities: | Subordinated notes
|
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