Chicago, April 20 – First Eagle Alternative Credit LLC sold $503.9 million in a collateralized loan obligation being issued by Wind River 2023-1 CLO Ltd./Wind River 2023-1 CLO LLC, according to a presale report.
The notes will mature on April 25, 2036.
The CLO consists of $305 million of class A senior secured floating-rate notes at SOFR plus 185 basis points, $62.5 million of class B senior secured floating-rate notes at SOFR plus 250 bps, $22.5 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 350 bps, $15 million of class C-2 senior secured deferrable floating-rate notes at SOFR plus 375 bps, $22.5 million of class D senior secured deferrable floating-rate notes at SOFR plus 633 bps, $20 million of class E senior secured deferrable floating-rate notes at SOFR plus 852 bps and $56.4 million of subordinated notes.
First Eagle Alternative Credit LLC will manage the collateral through the end of the reinvestment period on April 25, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 25, 2025.
Goldman Sachs & Co. LLC was the placement agent.
Boston-based First Eagle is an alternative credit management firm.
| Issuer: | Wind River 2023-1 CLO Ltd./Wind River 2023-1 CLO LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $503.9 million
|
| Maturity: | April 25, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | First Eagle Alternative Credit LLC
|
| Call feature: | April 25, 2025
|
| Settlement date: | April 24
|
|
|
| Class A notes
|
| Amount: | $305 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $62.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 633 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 852 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $56.4 million
|
| Securities: | Subordinated notes
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
