Chicago, Dec. 11 – PGIM Inc. priced $396.35 million of notes in a collateralized loan obligation being issued by Windhill CLO 1 Ltd./Windhill CLO 1 LLC, according to a presale report.
The notes will mature on Oct. 22, 2035.
The CLO consists of $222 million of class A-N senior secured floating-rate notes at SOFR plus 245 basis points, $10 million of class A-F 6.58% senior secured fixed-rate notes, $36 million of class B senior secured floating-rate notes at SOFR plus 345 bps, $36 million of class C senior secured deferrable floating-rate notes at SOFR plus 450 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 675 bps, $24 million of class E senior secured deferrable floating-rate notes at SOFR plus 950 bps and $44.35 million of subordinated notes.
PGIM Inc. will manage the collateral through the end of the reinvestment period on Oct. 22, 2027.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Oct. 22, 2025.
Natixis Securities Americas LLC was the placement agent.
The investment management firm is a subsidiary of Newark, N.J.-based Prudential Financial Inc.
| Issuer: | Windhill CLO 1 Ltd./Windhill CLO 1 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $396.35 million
|
| Maturity: | Oct. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | PGIM Inc.
|
| Call feature: | Oct. 22, 2025
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 21
|
|
|
| Class A-N notes
|
| Amount: | $222 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-F notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.58%
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 345 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 450 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 675 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 950 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $44.35 million
|
| Securities: | Subordinated notes
|
|
|
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