Chicago, April 18 – CIFC Asset Management LLC sold $399.36 million in a collateralized loan obligation being issued by Texas Debt Capital CLO 2023-I Ltd./Texas Debt Capital CLO 2023-I LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $256 million of class A senior secured floating-rate notes at SOFR plus 180 basis points, $48 million of class B senior secured floating-rate notes at SOFR plus 230 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 300 bps, $23 million of class D senior secured deferrable floating-rate notes at SOFR plus 510 bps, $12 million of class E senior secured deferrable floating-rate notes at SOFR plus 843 bps and $36.36 million of subordinated notes.
CIFC Asset Management LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2025.
RBC Capital Markets LLC was the placement agent.
The investment adviser is based in New York.
| Issuer: | Texas Debt Capital CLO 2023-I Ltd./Texas Debt Capital CLO 2023-I LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $399.36 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | RBC Capital Markets LLC
|
| Manager: | CIFC Asset Management LLC
|
| Call feature: | April 20, 2025
|
| Settlement date: | April 11
|
|
|
| Class A notes
|
| Amount: | $256 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 510 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 843 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $36.36 million
|
| Securities: | Subordinated notes
|
|
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