Chicago, Oct. 13 – Crescent Capital Group LP priced $394.4 million in a collateralized loan obligation being issued by Atlas Senior Loan Fund XX Ltd./Atlas Senior Loan Fund XX LLC, according to a presale report.
The notes will mature on Oct. 19, 2035.
The CLO consists of $244 million of class A senior secured floating-rate notes at SOFR plus 240 basis points, $40 million of class B-1 senior secured floating-rate notes at SOFR plus 315 bps, $20 million of class B-2 6.41% senior secured fixed-rate notes, $20.75 million of class C senior secured deferrable floating-rate notes at SOFR plus 435 bps, $15 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 567 bps, $6.75 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 693 bps, $13 million of class E senior secured deferrable floating-rate notes at SOFR plus 943 bps and $34.9 million of subordinated notes.
Crescent Capital Group LP will manage the collateral through the end of the reinvestment period on Oct. 19, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 13, 2024.
Citigroup Global Markets Inc. was the placement agent.
Crescent Capital is an alternative asset management firm is based in Los Angeles.
| Issuer: | Atlas Senior Loan Fund XX Ltd./Atlas Senior Loan Fund XX LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $394.4 million
|
| Maturity: | Oct. 19, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Crescent Capital Group LP
|
| Call feature: | Oct. 13, 2024
|
| Settlement date: | Oct. 13
|
|
|
| Class A notes
|
| Amount: | $244 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $40 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.41%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $20.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 435 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 567 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $6.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 693 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 943 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $34.9 million
|
| Securities: | Subordinated notes
|
|
|
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