Chicago, Sept. 2 – FCOD CLO Management LLC sold $396.78 million in a collateralized loan obligation being issued by Fortress Credit Opportunities XIX CLO LLC, according to a presale report.
The notes will mature on Oct. 15, 2033.
The CLO consists of $25 million of class A-L-1 senior secured floating-rate notes at SOFR plus 250 basis points, $76.2 million of class A-L-2 senior secured floating-rate notes at SOFR plus 250 bps, $64.8 million of class A-R senior secured floating-rate notes at SOFR plus 250 bps, $50 million of class A-T senior secured floating-rate notes at SOFR plus 250 bps, $28 million of class B senior secured floating-rate notes at SOFR plus 360 bps, $32 million of class C senior secured deferrable floating-rate notes at SOFR plus 490 bps, $28 million of class D senior secured deferrable floating-rate notes at SOFR plus 680 bps, $28 million of class E senior secured deferrable floating-rate notes at SOFR plus 845 bps and $64.78 million of subordinated notes.
FCOD CLO Management LLC will manage the collateral through the end of the reinvestment period on Oct. 15, 2025.
Collateral for the notes consists of senior secured loans, cash and eligible investments.
The notes can be called starting Oct. 15, 2024.
Natixis Securities Americas LLC was the placement agent.
Fortress Credit Opportunities is a securities asset fund based in Las Vegas.
| Issuer: | Fortress Credit Opportunities XIX CLO LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $396.78 million
|
| Maturity: | Oct. 15, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | FCOD CLO Management LLC
|
| Call feature: | Oct. 15, 2024
|
| Settlement date: | Sept. 13
|
|
|
| Class A-L-1 notes
|
| Amount: | $25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L-2 notes
|
| Amount: | $76.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-R notes
|
| Amount: | $64.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-T notes
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $28 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 490 bps
|
| Rating: | S&P: AA
|
|
|
| Class D notes
|
| Amount: | $28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 680 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 845 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $64.78 million
|
| Securities: | Subordinated notes
|
|
|
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