Chicago, March 15 – Elmwood Asset Management LLC sold $527 million of notes in a collateralized loan obligation being issued by Logan CLO II, Ltd., according to a press release.
The notes will mature on Jan. 22, 2035.
The CLO consists of $320 million of class A floating-rate notes at SOFR plus basis points, $60 million of class B floating-rate notes at SOFR plus bps, $25 million of class C floating-rate notes at SOFR plus bps, $60 million of class D 2.25% deferrable fixed-rate notes, $20 million of class E 5% deferrable fixed-rate notes and $42 million of variable dividend notes.
Elmwood Asset Management LLC will manage the collateral through the end of the five-year reinvestment period on five-year.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
RBC Capital Markets, LLC was the placement agent.
The hedge fund is based in New York.
| Issuer: | Logan CLO II, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and variable dividend notes
|
| Amount: | $527 million
|
| Maturity: | Jan. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | RBC Capital Markets, LLC
|
| Manager: | Elmwood Asset Management LLC
|
| Settlement date: | Dec. 17, 2021
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $25 million
|
| Securities: | Floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $60 million
|
| Securities: | Deferrable fixed-rate notes
|
| Coupon: | 2.25%
|
| Rating: | Moody's:
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Deferrable fixed-rate notes
|
| Coupon: | 5%
|
| Rating: | Moody's:
|
|
|
| Variable dividend notes
|
| Amount: | $42 million
|
| Securities: | Variable dividend notes
|
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