Chicago, Jan. 10 – Diameter CLO Advisors LLC refinanced for $497.1 million the collateralized loan obligation issued by Diameter Capital CLO 4 Ltd./Diameter Capital CLO 4 LLC, according to a presale report.
The notes will mature on Jan. 15, 2037.
The refinanced CLO consists of $300 million of class A-1-R senior secured floating-rate notes at SOFR plus 183 basis points, $62.5 million of class A-2A-R senior secured floating-rate notes at SOFR plus 240 bps, $10 million of class A-2B-R 6.14% senior secured fixed-rate notes, $34 million of class B-R senior secured deferrable floating-rate notes at SOFR plus 290 bps, $22.5 million of class C-1-R senior secured deferrable floating-rate notes at SOFR plus 430 bps, $6 million of class C-2-R senior secured deferrable floating-rate notes at SOFR plus 620 bps, $16.25 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 733 bps and $45.85 million of subordinated notes.
The original CLO consisted of $149 million of class A-1 senior secured floating-rate notes at SOFR plus 240 bps, $151 million of class A-1L senior secured floating-rate loans at SOFR plus 240 bps, $0 million of class A-1N senior secured floating-rate notes at SOFR plus 240 bps, $52 million of class A-2A senior secured floating-rate notes at SOFR plus 320 bps, $20 million of class A-2B 6.49% senior secured fixed-rate notes, $28 million of class B senior secured deferrable floating-rate notes at SOFR plus 410 bps, $22.5 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 550 bps, $5.5 million of class C-2 senior secured deferrable floating-rate notes at SOFR plus 601 bps, $17 million of class D senior secured deferrable floating-rate notes at SOFR plus 855 bps and $62.1 million of subordinated notes.
Diameter CLO Advisors LLC will manage the collateral through the end of the reinvestment period on Jan. 15, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 15, 2026.
BofA Securities Inc. was the placement agent.
Diameter Capital Partners is an investment firm based in New York.
| Issuer: | Diameter Capital CLO 4 Ltd./Diameter Capital CLO 4 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $497.1 million
|
| Maturity: | Jan. 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Diameter CLO Advisors LLC
|
| Call feature: | Jan. 15, 2026
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 16
|
|
|
| Class A-1-R notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 183 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2A-R notes
|
| Amount: | $62.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AA
|
|
|
| Class A-2B-R notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.14%
|
| Rating: | S&P: AA
|
|
|
| Class B-R notes
|
| Amount: | $34 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | S&P: A
|
|
|
| Class C-1-R notes
|
| Amount: | $22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 430 bps
|
| Rating: | S&P: BBB
|
|
|
| Class C-2-R notes
|
| Amount: | $6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 620 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D-R notes
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| Amount: | $16.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 733 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $45.85 million
|
| Securities: | Subordinated notes
|
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