Chicago, Sept. 28 – Carlyle CLO Management LLC sold $510.7 million in a collateralized loan obligation being issued by Carlyle US CLO 2021-7 Ltd./Carlyle US CLO 2021-7 LLC, according to a pre-sale report.
The notes will mature on Oct. 15, 2035.
The CLO consists of $307.5 million of class A-1 senior secured floating-rate notes at Libor plus 116 basis points, $72.5 million of class A-2 senior secured floating-rate notes at Libor plus 165 bps, $30 million of class B senior secured deferrable floating-rate notes at Libor plus 210 bps, $30 million of class C senior secured deferrable floating-rate notes at Libor plus 310 bps, $20 million of class D senior secured deferrable floating-rate notes at Libor plus 625 bps and $50.7 million of subordinated notes.
Carlyle CLO Management LLC will manage the collateral through the end of the reinvestment period on Oct. 15, 2026.
The collateral pool mostly has broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Sept. 23, 2023.
BNP Paribas Securities Corp. was the placement agent.
Carlyle CLO is a subsidiary of Washington, D.C.-based Carlyle Group.
| Issuer: | Carlyle US CLO 2021-7 Ltd./Carlyle US CLO 2021-7 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $510.7 million
|
| Maturity: | Oct. 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Carlyle CLO Management LLC
|
| Call feature: | Sept. 23, 2023
|
| Settlement date: | Sept. 23
|
|
|
| Class A-1 notes
|
| Amount: | $307.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 116 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $72.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AA
|
|
|
| Class B notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | S&P: A
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 625 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $50.7 million
|
| Securities: | Subordinated notes
|
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