Chicago, Oct. 19 – Sixth Street CLO XX Management LLC sold $508.75 million in a collateralized loan obligation being issued by Sixth Street CLO XX Ltd./Sixth Street CLO XX LLC, according to a couple of notices.
The notes will mature on Oct. 20, 2034.
The CLO consists of $310 million of class A-1 senior secured floating-rate notes at Libor plus 116 basis points, $15 million of class A-2 senior secured floating-rate notes at Libor plus 145 bps, $55 million of class B senior secured floating-rate notes at Libor plus 165 bps, $30 million of class C senior secured deferrable floating-rate notes at Libor plus 200 bps, $30 million of class D senior secured deferrable floating-rate notes at Libor plus 305 bps, $17.5 million of class E senior secured deferrable floating-rate notes at Libor plus 615 bps and $51.25 million of subordinated notes.
Sixth Street CLO XX Management LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
Collateral will chiefly consist of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 20, 2023.
Goldman Sachs & Co. LLC was the placement agent.
Sixth Street is a global investment firm based in San Francisco.
Issuer: | Sixth Street CLO XX Ltd./Sixth Street CLO XX LLC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $508.75 million
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Maturity: | Oct. 20, 2034
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Structure: | Cash flow CLO
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Placement agent: | Goldman Sachs & Co. LLC
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Manager: | Sixth Street CLO XX Management LLC
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Call feature: | Oct. 20, 2023
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Settlement date: | Oct. 20
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Class A-1 notes
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Amount: | $310 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 116 bps
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Rating: | S&P: AAA
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| Fitch: AAA
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Class A-2 notes
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Amount: | $15 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 145 bps
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Rating: | Fitch: AAA
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Class B notes
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Amount: | $55 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 165 bps
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Rating: | S&P: AA
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Class C notes
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Amount: | $30 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 200 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $30 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 305 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $17.5 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 615 bps
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $51.25 million
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Securities: | Subordinated notes
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