Chicago, April 29 – Blue Owl Technology Credit Advisors II LLC priced $449.95 million of notes in a collateralized loan obligation being issued by Athena CLO III LLC, according to a presale report.
The transaction will mature on April 20, 2036.
The CLO consists of $225 million of class A floating-rate notes at SOFR plus 215 basis points, $22.5 million of class B floating-rate notes at SOFR plus 275 bps, $22.5 million of class C floating-rate notes at SOFR plus 350 bps and $179.95 million of subordinated notes.
Blue Owl Technology Credit Advisors II LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral consists of middle-market speculative-grade senior secured term loans.
The CLO can be called starting April 20, 2026.
Goldman Sachs & Co. LLC was the placement agent.
The alternative asset manager is based in New York.
| Issuer: | Athena CLO III LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $449.95 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Blue Owl Technology Credit Advisors II LLC
|
| Call feature: | April 20, 2026
|
| Pricing date: | April 25
|
| Settlement date: | June 1
|
|
|
| Class A notes
|
| Amount: | $225 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 215 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $22.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $22.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | S&P: A
|
|
|
| Subordinated notes
|
| Amount: | $179.95 million
|
| Securities: | Subordinated notes
|
|
|
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