Chicago, Dec. 6 – Trimaran Advisors LLC sold $400 million in a collateralized loan obligation being issued by Trimaran CAVU 2022-2 Ltd./Trimaran CAVU 2022-2 LLC, according to a presale report.
The notes will mature on Jan. 20, 2036.
The CLO consists of $248 million of class A senior secured floating-rate notes at SOFR plus 250 basis points, $47 million of class B-1 senior secured floating-rate notes at SOFR plus 340 bps, $5 million of class B-2 7.01% senior secured fixed-rate notes, $22 million of class C senior secured deferrable floating-rate notes at SOFR plus 430 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 612 bps, $11 million of class E senior secured deferrable floating-rate notes at SOFR plus 881 bps and $43 million of subordinated notes.
Trimaran Advisors LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2027.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 20, 2025.
Credit Suisse Securities (USA) LLC was the placement agent.
The manager is a subsidiary of New York-based LibreMax Capital, LLC.
| Issuer: | Trimaran CAVU 2022-2 Ltd./Trimaran CAVU 2022-2 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $400 million
|
| Maturity: | Jan. 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Trimaran Advisors LLC
|
| Call feature: | Jan. 20, 2025
|
| Settlement date: | Dec. 15
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $47 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $5 million
|
| Securities: | Senior secured fixed-rate notes
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| Coupon: | 7.01%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 430 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 612 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $11 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 881 bps
|
| Rating: | S&P: BB-
|
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