Chicago, Nov. 15 – ArrowMark Colorado Holdings LLC sold $349.23 million in a collateralized loan obligation being issued by Elevation CLO 2023-17 Ltd./Elevation Clo 2023-17 LLC, according to a presale report.
The notes will mature on Oct. 20, 2036.
The CLO consists of $1.5 million of class X senior secured floating-rate notes at SOFR plus 160 basis points, $210 million of class A-1 senior secured floating-rate notes at SOFR plus 187 bps, $14 million of class A-2 senior secured floating-rate notes at SOFR plus 225 bps, $42 million of class B senior secured floating-rate notes at SOFR plus 270 bps, $21 million of class C senior secured deferrable floating-rate notes at SOFR plus 350 bps, $19.25 million of class D senior secured deferrable floating-rate notes at SOFR plus 569 bps, $11.38 million of class E senior secured deferrable floating-rate notes at SOFR plus 816 bps and $30.1 million of subordinated notes.
ArrowMark Colorado Holdings LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 20, 2025.
Goldman Sachs & Co. LLC was the placement agent.
The investment management firm is based in Denver.
Issuer: | Elevation CLO 2023-17 Ltd./Elevation Clo 2023-17 LLC
|
Issue: | Floating-rate notes and subordinated notes
|
Amount: | $349.23 million
|
Maturity: | Oct. 20, 2036
|
Structure: | Cash flow CLO
|
Placement agent: | Goldman Sachs & Co. LLC
|
Manager: | ArrowMark Colorado Holdings LLC
|
Call feature: | Oct. 20, 2025
|
Pricing date: | Nov. 13
|
Settlement date: | Nov. 16
|
|
Class X notes
|
Amount: | $1.5 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | SOFR plus 160 bps
|
Rating: | S&P: AAA
|
|
Class A-1 notes
|
Amount: | $210 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | SOFR plus 187 bps
|
Rating: | S&P: AAA
|
|
Class A-2 notes
|
Amount: | $14 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | SOFR plus 225 bps
|
Rating: | S&P: AAA
|
|
Class B notes
|
Amount: | $42 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | SOFR plus 270 bps
|
Rating: | S&P: AA
|
|
Class C notes
|
Amount: | $21 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | SOFR plus 350 bps
|
Rating: | S&P: A
|
|
Class D notes
|
Amount: | $19.25 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | SOFR plus 569 bps
|
Rating: | S&P: BBB-
|
|
Class E notes
|
Amount: | $11.38 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | SOFR plus 816 bps
|
Rating: | S&P: BB-
|
|
Subordinated notes
|
Amount: | $30.1 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.