Chicago, Feb. 2 – Tikehau Structured Credit Management LLC sold $411.45 million in a collateralized loan obligation being issued by Tikehau US CLO I Ltd., according to multiple notices.
The notes will mature on Jan. 18, 2035.
The CLO consists of $252 million of class A-1 senior secured floating-rate notes at Libor plus 122 basis points, $8 million of class A-2 senior secured floating-rate notes at Libor plus 145 bps, $40 million of class B senior secured floating-rate notes at Libor plus 190 bps, $23 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 245 bps, $24 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 395 bps, $21 million of class E junior secured deferrable floating-rate notes at Libor plus 691 bps and $43.45 million of subordinated notes.
Tikehau Structured Credit Management LLC will manage the collateral through the end of the five-year reinvestment period.
The notes will primarily be backed by first-lien senior secured leveraged loans.
Jefferies LLC was the placement agent.
Tikehau is an alternative investment manager based in Paris.
| Issuer: | Tikehau US CLO I Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $411.45 million
|
| Maturity: | Jan. 18, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Tikehau Structured Credit Management LLC
|
| Settlement date: | Dec. 23
|
|
|
| Class A-1 notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 122 bps
|
| Rating: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B notes
|
| Amount: | $40 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C notes
|
| Amount: | $23 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 245 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 395 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class E notes
|
| Amount: | $21 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 691 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $43.45 million
|
| Securities: | Subordinated notes
|
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