Chicago, Nov. 15 – First Eagle Alternative Credit, LLC sold $508.25 million in a collateralized loan obligation being issued by Wind River 2021-3 CLO Ltd./Wind River 2021-3 CLO LLC, according to multiple notices.
The notes will mature on July 20, 2033.
The CLO consists of $310 million of class A senior secured floating-rate notes at Libor plus 115 basis points, $56 million of class B-1 senior secured floating-rate notes at Libor plus 170 bps, $11 million of class B-2 2.89% senior secured fixed-rate notes, $26 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 215 bps, $34 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 335 bps, $21.75 million of class E junior secured deferrable floating-rate notes at Libor plus 660 bps and $49.5 million of subordinated notes.
First Eagle Alternative Credit, LLC will manage the collateral through the end of the five-year reinvestment period.
The notes will be collateralized by broadly syndicated senior secured corporate loans.
Morgan Stanley & Co. LLC was the placement agent.
Boston-based First Eagle is an alternative credit management firm.
| Issuer: | Wind River 2021-3 CLO Ltd./Wind River 2021-3 CLO LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $508.25 million
|
| Maturity: | July 20, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | First Eagle Alternative Credit, LLC
|
| Settlement date: | Aug. 12
|
|
|
| Class A notes
|
| Amount: | $310 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
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| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
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| Amount: | $11 million
|
| Securities: | Senior secured fixed-rate notes
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| Coupon: | 2.89%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
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| Amount: | $26 million
|
| Securities: | Mezzanine Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
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| Amount: | $34 million
|
| Securities: | Mezzanine Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 335 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
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| Amount: | $21.75 million
|
| Securities: | Junior Secured deferrable floating-rate notes
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| Coupon: | Libor plus 660 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $49.5 million
|
| Securities: | Subordinated notes
|
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