Chicago, March 9 – Diameter Capital Partners LP sold $409 million in a collateralized debt obligation issued by Diameter Credit Funding IV, Ltd., according to press release.
The notes will mature on Jan. 16, 2040.
The CLO consists of $190.6 million of class A 2.94% senior secured fixed-rate notes, $58 million of class B 3.14% senior secured fixed-rate notes, $17.6 million of class C 3.49% mezzanine secured fixed-rate notes, $23.6 million of class D 5.29% mezzanine secured fixed-rate notes, $11.2 million of class E 7.38% junior secured deferrable fixed-rate notes and $108 million of subordinated notes.
Diameter Capital Partners LP will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of corporate bonds and loans.
Apollo Global Securities, LLC was the placement agent.
Diameter Capital Partners is an investment firm based in New York.
| Issuer: | Diameter Credit Funding IV, Ltd.
|
| Issue: | Fixed-rate notes and subordinated notes
|
| Amount: | $409 million
|
| Maturity: | Jan. 16, 2040
|
| Structure: | CDO
|
| Placement agent: | Apollo Global Securities, LLC
|
| Manager: | Diameter Capital Partners LP
|
| Settlement date: | Dec. 22, 2021
|
|
|
| Class A notes
|
| Amount: | $190.6 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.94%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $58 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.14%
|
| Rating: | Moody's: Aa3
|
|
|
| Class C notes
|
| Amount: | $17.6 million
|
| Securities: | Mezzanine secured fixed-rate notes
|
| Coupon: | 3.49%
|
| Rating: | Moody's: A3
|
|
|
| Class D notes
|
| Amount: | $23.6 million
|
| Securities: | Mezzanine secured fixed-rate notes
|
| Coupon: | 5.29%
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $11.2 million
|
| Securities: | Junior secured deferrable fixed-rate notes
|
| Coupon: | 7.38%
|
| Rating: | Moody's: Ba2
|
|
|
| Subordinated notes
|
| Amount: | $108 million
|
| Securities: | Subordinated notes
|
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