Chicago, March 15 – ORIX Advisers LLC refinanced for $429.15 million the collateralized loan obligation being issued by Signal Peak CLO 5 Ltd./Signal Peak CLO 5 LLC, according to a presale report.
The refinancing replaces the Mariner CLO 5 Ltd. transaction, from March 2018.
The notes will mature on April 25, 2037.
The CLO consists of $240 million of class A-1R senior secured floating-rate notes at SOFR plus 155 basis points, $24 million of class A-2R senior secured floating-rate notes at SOFR plus 175 bps, $40 million of class B-R senior secured floating-rate notes at SOFR plus 220 bps, $24 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 270 bps, $24 million of class D-1R senior secured deferrable floating-rate notes at SOFR plus 420 bps, $6 million of class D-2R senior secured deferrable floating-rate notes at SOFR plus 525 bps, $19.5 million of class E-R senior secured deferrable floating-rate notes (principal only), class XE-R senior secured deferrable floating-rate notes at SOFR plus 750 bps (interest only) and $51.65 million of subordinated notes.
ORIX Advisers LLC will manage the collateral through the end of the reinvestment period on April 25, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 25, 2026.
Jefferies LLC was the placement agent.
ORIX is an investment adviser based out of New York.
| Issuer: | Signal Peak CLO 5 Ltd./Signal Peak CLO 5 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $429.15 million
|
| Maturity: | April 25, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | ORIX Advisers LLC
|
| Call feature: | April 25, 2026
|
| Pricing date: | March 12
|
| Settlement date: | March 15
|
|
|
| Class A-1R notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 155 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $40 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 420 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-2R notes
|
| Amount: | $6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 525 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes (principal only)
|
| Rating: | S&P: BB-
|
|
|
| Class XE-R notes
|
| Securities: | Senior secured deferrable floating-rate notes (interest only)
|
| Coupon: | SOFR plus 750 bps
|
|
|
| Subordinated notes
|
| Amount: | $51.65 million
|
| Securities: | Subordinated notes
|
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