Chicago, March 13 – Wellington Management CLO Advisors LLC priced $408 million in a collateralized loan obligation being issued by Wellington Management CLO 2 Ltd./Wellington Management CLO 2 LLC, according to a presale report.
The transaction will mature on April 20, 2037.
The CLO consists of $204 million of class A senior secured floating-rate notes at SOFR plus 155 basis points, $50 million of class A senior secured floating-rate loans at SOFR plus 155 bps, $50 million of class B senior secured floating-rate notes at SOFR plus 200 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 240 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 390 bps, $14 million of class E senior secured deferrable floating-rate notes at SOFR plus 690 bps and $42 million of subordinated notes.
Wellington Management CLO Advisors LLC will manage the collateral through the end of the reinvestment period on April 20, 2037.
Collateral consists of broadly syndicated speculative-grade senior secured term loans.
The CLO can be called starting April 20, 2026.
Morgan Stanley & Co. LLC was the placement agent.
Wellington is an investment adviser based in Boston.
Issuer: | Wellington Management CLO 2 Ltd./Wellington Management CLO 2 LLC
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Issue: | Floating-rate notes, floating-rate loans and subordinated notes
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Amount: | $408 million
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Maturity: | April 20, 2037
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Structure: | Cash flow CLO
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Placement agent: | Morgan Stanley & Co. LLC
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Manager: | Wellington Management CLO Advisors LLC
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Call feature: | April 20, 2026
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Pricing date: | March 6
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Settlement date: | March 20
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Class A notes
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Amount: | $204 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 155 bps
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Rating: | S&P: AAA
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Class A loans
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Amount: | $50 million
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Securities: | Senior secured floating-rate loans
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Coupon: | SOFR plus 155 bps
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Rating: | S&P: AAA
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Class B notes
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Amount: | $50 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 200 bps
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Rating: | S&P: AA
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Class C notes
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Amount: | $24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 240 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 390 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $14 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 690 bps
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $42 million
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Securities: | Subordinated notes
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