Chicago, June 16 – First Eagle Alternative Credit, LLC sold $403 million in a collateralized loan obligation being issued by Wind River 2022-2 CLO Ltd., according to multiple press releases and a presale report.
The notes will mature on July 20, 2035.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 164 basis points, $10 million of class A-2A senior secured floating-rate notes at SOFR plus 200 bps, $10 million of class A-2B 4.66% senior secured fixed-rate notes, $34 million of class B-1 senior secured floating-rate notes at SOFR plus 290 bps, $10 million of class B-2 5.35% senior secured fixed-rate notes, $24 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 340 bps, $24 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 470 bps, $16 million of class E junior secured deferrable floating-rate notes at SOFR plus 857 bps and $35 million of subordinated notes.
First Eagle Alternative Credit, LLC will manage the collateral through the end of the reinvestment period on July 2027.
Collateral for the notes consists of senior secured corporate loans.
The notes can be called starting June 2024.
BofA Securities, Inc. was the placement agent.
Boston-based First Eagle is an alternative credit management firm.
| Issuer: | Wind River 2022-2 CLO Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $403 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | First Eagle Alternative Credit, LLC
|
| Call feature: | June 2024
|
| Settlement date: | June 24
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 164 bps
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2A notes
|
| Amount: | $10 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2B notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.66%
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.35%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 470 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 857 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $35 million
|
| Securities: | Subordinated notes
|
|
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