Chicago, Sept. 13 – CIFC Asset Management LLC sold $392.25 million in a collateralized loan obligation being issued by CIFC Funding 2022-VI, Ltd./CIFC Funding 2022-VI, LLC, according to a presale report and a new issue report.
The notes will mature on July 2035.
The CLO consists of $244 million of class A senior secured floating-rate notes at SOFR plus 225 basis points, $41.4 million of class B-1 senior secured floating-rate notes at SOFR plus 310 bps, $10 million of class B-2 5.71% senior secured fixed-rate notes, $23.2 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 410 bps, $25.8 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 535 bps, $13.6 million of class E junior secured deferrable floating-rate notes at SOFR plus 856 bps and $34.25 million of subordinated notes.
CIFC Asset Management LLC will manage the collateral through the end of the reinvestment period in July 2027.
Collateral for the notes consists of first-lien senior secured loans.
The notes can be called starting September 2024.
Morgan Stanley & Co. LLC was the placement agent.
The investment adviser is based in New York.
Issuer: | CIFC Funding 2022-VI, Ltd./CIFC Funding 2022-VI, LLC
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $392.25 million
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Maturity: | July 2035
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Structure: | Cash flow CLO
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Placement agent: | Morgan Stanley & Co. LLC
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Manager: | CIFC Asset Management LLC
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Call feature: | September 2024
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Settlement date: | Sept. 12
|
|
Class A notes
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Amount: | $244 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 225 bps
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Rating: | Moody's: Aaa
|
|
Class B-1 notes
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Amount: | $41.4 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 310 bps
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Rating: | Fitch: AA
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|
Class B-2 notes
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Amount: | $10 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 5.71%
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Rating: | Fitch: AA
|
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Class C notes
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Amount: | $23.2 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | SOFR plus 410 bps
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Rating: | Fitch: A
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Class D notes
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Amount: | $25.8 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | SOFR plus 535 bps
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Rating: | Fitch: BBB-
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Class E notes
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Amount: | $13.6 million
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Securities: | Junior secured deferrable floating-rate notes
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Coupon: | SOFR plus 856 bps
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Rating: | Fitch: BB-
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Subordinated notes
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Amount: | $34.25 million
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Securities: | Subordinated notes
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