Chicago, April 7 – Symphony Alternative Asset Management LLC sold $407 million in a collateralized loan obligation issued by Symphony CLO XXXII, Ltd., according to a new issue report and a press release.
The notes will mature on April 23, 2035.
The CLO consists of $1 million of class X amortizing senior secured floating-rate notes at SOFR plus 100 basis points, $248 million of class A-1 senior secured floating-rate notes at SOFR plus 132 bps, $12 million of class A-2 senior secured floating-rate notes at SOFR plus 165 bps, $44 million of class B senior secured floating-rate notes at SOFR plus 185 bps, $14 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 210 bps, $10 million of class C-2 senior secured deferrable floating-rate notes at SOFR plus 255 bps, $20 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 350 bps, $8 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 535 bps, $12 million of class E senior secured deferrable floating-rate notes at SOFR plus 670 bps and $38 million of subordinated notes.
Symphony Alternative Asset Management LLC will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Credit Suisse Securities (USA) LLC was the placement agent.
Symphony Asset Management is a San Francisco-based asset management firm.
| Issuer: | Symphony CLO XXXII, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $407 million
|
| Maturity: | April 23, 2035
|
| Structure: | Arbitrage cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Symphony Alternative Asset Management LLC
|
| Settlement date: | March 31
|
|
|
| Class X notes
|
| Amount: | $1 million
|
| Securities: | Amortizing senior secured floating-rate notes
|
| Coupon: | SOFR plus 100 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 132 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 165 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C-1 notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Fitch: A+
|
|
|
| Class C-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class D-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 535 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 670 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $38 million
|
| Securities: | Subordinated notes
|
|
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