Chicago, April 6 – Canyon CLO Advisors LLC priced $410.75 million of notes in the new Canyon Capital CLO 2021-2, Ltd./Canyon Capital CLO 2021-2, LLC collateralized loan obligation transaction due April 17, 2034, according to a pre-sale report.
The portfolio has $3 million of class X senior secured floating-rate notes at Libor plus 85 basis points, $259 million of class A senior secured floating-rate notes at Libor plus 107 bps and $53.4 million of class B senior secured floating-rate notes at Libor plus 165 bps.
Lower, there are $19.5 million of class C senior secured deferrable floating-rate notes at Libor plus 220 bps, $25.7 million of class D senior secured deferrable floating-rate notes at Libor plus 325 bps and $19.5 million of class E senior secured deferrable floating-rate notes at Libor plus 725 bps.
There are also $30.6 million of subordinated notes.
Goldman Sachs & Co. LLC is the underwriter.
Canyon CLO Advisors will manage the collateral through the end of the reinvestment period in April 2026.
The notes can be called after April 2023.
Collateral for the notes comes from non-investment-grade broadly syndicated loans and other assets.
The alternative asset manager is based in Los Angeles.
| Issuers: | Canyon Capital CLO 2021-2, Ltd./Canyon Capital CLO 2021-2, LLC
|
| Issue: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | $410.75 million
|
| Maturity: | April 17, 2034
|
| Agent: | Goldman Sachs & Co. LLC
|
| Manager: | Canyon CLO Advisors LLC
|
| Call: | April 2023
|
| Pricing date: | April 2
|
| Settlement date: | April 30
|
|
|
| Class X notes
|
| Amount: | $3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 85 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A notes
|
| Amount: | $259 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 107 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $53.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $25.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $19.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 725 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $30.6 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.
