Chicago, June 2 – Invesco CLO Equity Fund 3 LP sold $404.5 million in a collateralized loan obligation being issued by Invesco CLO 2022-2 Ltd./Invesco CLO 2022-2 LLC, according to a presale report.
The notes will mature on July 20, 2035.
The CLO consists of $248 million of class A-1 senior secured floating-rate notes at SOFR plus 144 basis points, $12 million of class A-2 senior secured floating-rate notes at SOFR plus 175 bps, $44 million of class B senior secured floating-rate notes at SOFR plus 215 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 240 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 375 bps, $13 million of class E senior secured deferrable floating-rate notes at SOFR plus 745 bps and $39.5 million of subordinated notes.
Invesco CLO Equity Fund 3 LP will manage the collateral through the end of the reinvestment period on July 20, 2027.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting July 20, 2024.
Morgan Stanley & Co. LLC was the placement agent.
The manager is a New York-based investment firm and is a subsidiary of Invesco Senior Secured Management Inc.
| Issuer: | Invesco CLO 2022-2 Ltd./Invesco CLO 2022-2 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $404.5 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Invesco CLO Equity Fund 3 LP
|
| Call feature: | July 20, 2024
|
| Settlement date: | June 16
|
|
|
| Class A-1 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 144 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 215 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 745 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $39.5 million
|
| Securities: | Subordinated notes
|
|
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