Chicago, Aug. 24 – Symphony Alternative Asset Management LLC sold $388.1 million in a collateralized loan obligation issued by Symphony CLO 35, Ltd., according to a new issue report and a press release.
The notes will mature on July 24, 2034.
The CLO consists of $250 million of class A-1 senior secured floating-rate notes at SOFR plus 210 basis points, $6 million of class A-2 4.89% senior secured fixed-rate notes, $22 million of class B-1 senior secured floating-rate notes at SOFR plus 295 bps, $24 million of class B-2 5.71% senior secured fixed-rate notes, $22 million of class C senior secured deferrable floating-rate notes at SOFR plus 410 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 513 bps, $15.8 million of class E senior secured deferrable floating-rate notes at SOFR plus 859 bps, $500,000 of class F senior secured deferrable floating-rate notes at SOFR plus 797 bps and $23.8 million of subordinated notes.
Nuveen Asset Management, LLC will manage the collateral through the end of the reinvestment period in 2.9 years.
Collateral for the notes consists of senior secured leveraged loans.
Symphony Asset Management is a San Francisco-based asset management firm and is an affiliate of Nuveen Asset Management, LLC.
| Issuer: | Symphony CLO 35, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $388.1 million
|
| Maturity: | July 24, 2034
|
| Structure: | Cash flow CLO
|
| Manager: | Nuveen Asset Management, LLC
|
| Settlement date: | Aug. 17
|
|
|
| Class A-1 notes
|
| Amount: | $250 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $6 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.89%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $22 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 295 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $24 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.71%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 410 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 513 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | $15.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 859 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $500,000
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 797 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $23.8 million
|
| Securities: | Subordinated notes
|
|
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