Chicago, Dec. 13 – ORIX Advisers LLC refinanced and extended for $622.45 million the collateralized loan obligation issued by Signal Peak CLO 4 Ltd./Signal Peak CLO 4 LLC, according to a pre-sale report.
The notes will now mature on Oct. 26, 2034.
The refinanced CLO consists of $6 million of class X-R senior secured floating-rate notes at Libor plus 95 basis points, $384 million of class A-R senior secured floating-rate notes at Libor plus 118 bps, $72 million of class B-R senior secured floating-rate notes at Libor plus 175 bps, $36 million of class C-R senior secured deferrable floating-rate notes at Libor plus 215 bps, $36 million of class D-R senior secured deferrable floating-rate notes at Libor plus 320 bps, $19.5 million of class E-R senior secured deferrable floating-rate notes at Libor plus 675 bps, $10.5 million of class F-R senior secured deferrable floating-rate notes at Libor plus 853 bps and $58.45 million of subordinated notes.
ORIX Advisers LLC will manage the collateral through the end of the reinvestment period on Oct. 26, 2026.
Collateral for the notes comes from broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 26, 2023.
J.P. Morgan Securities LLC was the placement agent.
ORIX is an investment adviser based out of New York.
| Issuer: | Signal Peak CLO 4 Ltd./Signal Peak CLO 4 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $622.45 million
|
| Maturity: | Oct. 26, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | ORIX Advisers LLC
|
| Call feature: | Oct. 26, 2023
|
| Settlement date: | Oct. 26
|
|
|
| Class X-R notes
|
| Amount: | $6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 95 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-R notes
|
| Amount: | $384 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 118 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $72 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 320 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 675 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F-R notes
|
| Amount: | $10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 853 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $58.45 million
|
| Securities: | Subordinated notes
|
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