Chicago, April 17 – AB Broadly Syndicated Loan Manager LLC sold $401.6 million in a collateralized loan obligation being issued by AB BSL CLO 4 Ltd./AB BSL CLO 4 LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $248 million of class A senior secured floating-rate notes at SOFR plus 200 basis points, $56 million of class B senior secured floating-rate notes at SOFR plus 250 bps, $22 million of class C senior secured deferrable floating-rate notes at SOFR plus 335 bps, $22 million of class D senior secured deferrable floating-rate notes at SOFR plus 550 bps, $14 million of class E senior secured deferrable floating-rate notes at SOFR plus 816 bps and $39.6 million of subordinated notes.
AB Broadly Syndicated Loan Manager LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 12, 2025.
Citigroup Global Markets Inc. was the placement agent.
The collateral manager is a subsidiary of AllianceBernstein LP.
| Issuer: | AB BSL CLO 4 Ltd./AB BSL CLO 4 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $401.6 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | AB Broadly Syndicated Loan Manager LLC
|
| Call feature: | April 12, 2025
|
| Settlement date: | April 12
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 335 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 550 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 816 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $39.6 million
|
| Securities: | Subordinated notes
|
|
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