Chicago, May 18 – Silver Point CLO Management, LLC sold $402.7 million in a collateralized loan obligation issued by Silver Point CLO 2, Ltd., according to multiple press releases.
The notes will mature on April 20, 2035.
The CLO consists of $240 million of class A-1 secured floating-rate notes at SOFR plus 225 basis points, $15 million of class A-2 secured floating-rate notes at SOFR plus 270 bps, $37.1 million of class B-1 secured floating-rate notes at SOFR plus 290 bps, $5.5 million of class B-2 6.1699% secured fixed-rate notes, $24.2 million of class C secured deferrable floating-rate notes at SOFR plus 370 bps, $18.2 million of class D-1 secured deferrable floating-rate notes at SOFR plus 556 bps, $6 million of class D-2 secured deferrable floating-rate notes at SOFR plus 764 bps, $12 million of class E secured deferrable floating-rate notes at SOFR plus 899 bps, $300,000 of class F secured deferrable floating-rate notes at SOFR plus 900 bps and $44.4 million of subordinated notes.
Silver Point CLO Management, LLC will manage the collateral through the end of the 3.9-year reinvestment period.
Collateral for the notes consists of senior secured leveraged loans.
The collateral manager was incorporated in August 2022.
| Issuer: | Silver Point CLO 2, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $402.7 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Manager: | Silver Point CLO Management, LLC
|
| Settlement date: | May 12
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $15 million
|
| Securities: | Secured floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $37.1 million
|
| Securities: | Secured floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $5.5 million
|
| Securities: | Secured fixed-rate notes
|
| Coupon: | 6.1699%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $24.2 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 370 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | $18.2 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 556 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $6 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 764 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $12 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 899 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | $0.3 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 900 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $44.4 million
|
| Securities: | Subordinated notes
|
|
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