Chicago, Jan. 31 – Angelo, Gordon & Co., LP sold $406.8 million in a collateralized loan obligation being issued by Northwoods Capital 27, Ltd., according to multiple notices.
The notes will mature on Oct. 17, 2034.
The CLO consists of $74.4 million of class A-1 senior secured floating-rate notes at Libor plus 119 basis points, $173.6 million of class A-L senior secured floating-rate loans at Libor plus 119 bps, $0 million of class A-N senior secured floating-rate notes at Libor plus 119 bps, $12 million of class A-2 senior secured floating-rate notes at Libor plus 145 bps, $43.6 million of class B senior secured floating-rate notes at Libor plus 175 bps, $18 million of class C senior secured deferrable floating-rate notes at Libor plus 235 bps, $25.4 million of class D senior secured deferrable floating-rate notes at Libor plus 350 bps, $21 million of class E senior secured deferrable floating-rate notes at Libor plus 704 bps and $38.8 million of subordinated notes.
The class A-L loans can be converted at any time into class A-N notes.
Angelo, Gordon & Co., LP will manage the collateral through the end of the five-year reinvestment period.
Collateral will come from a portfolio of broadly syndicated senior secured corporate loans.
BofA Securities, Inc. was the placement agent.
Angelo Gordon is an alternative investment manager based in New York
| Issuer: | Northwoods Capital 27, Ltd.
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $406.8 million
|
| Maturity: | Oct. 17, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Angelo, Gordon & Co., LP
|
| Settlement date: | Nov. 23
|
|
|
| Class A-1 notes
|
| Amount: | $74.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 119 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-L loans
|
| Amount: | $173.6 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Libor plus 119 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-N notes
|
| Amount: | $0 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 119 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $43.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 235 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $25.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 350 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 704 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $38.8 million
|
| Securities: | Subordinated notes
|
|
|
|
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