Chicago, June 8 – Tikehau Structured Credit Management LLC sold $501.8 million in a collateralized loan obligation being issued by Tikehau US CLO IV Ltd./Tikehau US CLO IV LLC, according to a presale report.
The notes will mature on July 15, 2034.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at SOFR plus 220 basis points, $10 million of class A-2 senior secured floating-rate notes at SOFR plus 255 bps, $67.5 million of class B senior secured floating-rate notes at SOFR plus 300 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 375 bps, $20 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 585 bps, $7.5 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 841 bps, $16.25 million of class E senior secured deferrable floating-rate notes at SOFR plus 863 bps and $50.55 million of subordinated notes.
Tikehau Structured Credit Management LLC will manage the collateral through the end of the reinvestment period on July 15, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 15, 2025.
Barclays was the placement agent.
Tikehau is an alternative investment manager based in Paris.
| Issuer: | Tikehau US CLO IV Ltd./Tikehau US CLO IV LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $501.8 million
|
| Maturity: | July 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Tikehau Structured Credit Management LLC
|
| Call feature: | Jan. 15, 2025
|
| Settlement date: | June 12
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $67.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 585 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-2 notes
|
| Amount: | $7.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 841 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 863 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $50.55 million
|
| Securities: | Subordinated notes
|
|
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