Chicago, Oct. 5 – Rockford Tower Capital Management LLC sold €375.7 million in a collateralized loan obligation being issued by Rockford Tower Europe CLO 2023-1 DAC, according to press releases.
The notes will mature on Oct. 15, 2037.
The CLO consists of €232.4 million of class A senior secured floating-rate notes at Euribor plus 175 basis points, €23.8 million of class B-1 senior secured floating-rate notes at Euribor plus 250 bps, €10 million of class B-2 6.5% senior secured fixed-rate notes, €24.4 million of class C senior secured deferrable floating-rate notes at Euribor plus 335 bps, €26.2 million of class D senior secured deferrable floating-rate notes at Euribor plus 520 bps, €16 million of class E senior secured deferrable floating-rate notes at Euribor plus 715 bps, €10.4 million of class F senior secured deferrable floating-rate notes at Euribor plus 955 bps and €32.5 million of subordinated notes.
Rockford Tower Capital Management LLC will manage the collateral through the end of the 4.6-year reinvestment period.
Collateral for the notes consists of senior secured obligations.
Rockford Tower Capital Management is a Dover, Del., limited liability company.
Issuer: | Rockford Tower Europe CLO 2023-1 DAC
|
Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
Amount: | €375.7 million
|
Maturity: | Oct. 15, 2037
|
Structure: | Cash flow CLO
|
Manager: | Rockford Tower Capital Management LLC
|
Pricing date: | Sept. 12
|
Settlement date: | Sept. 14
|
|
Class A notes
|
Amount: | €232.4 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Euribor plus 175 bps
|
Rating: | S&P: AAA
|
| Fitch: AAA
|
|
Class B-1 notes
|
Amount: | €23.8 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Euribor plus 250 bps
|
Rating: | S&P: AA
|
| Fitch: AA
|
|
Class B-2 notes
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Amount: | €10 million
|
Securities: | Senior secured fixed-rate notes
|
Coupon: | 6.5%
|
Rating: | S&P: AA
|
| Fitch: AA
|
|
Class C notes
|
Amount: | €24.4 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | Euribor plus 335 bps
|
Rating: | S&P: A
|
| Fitch: A
|
|
Class D notes
|
Amount: | €26.2 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | Euribor plus 520 bps
|
Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
Class E notes
|
Amount: | €16 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | Euribor plus 715 bps
|
Rating: | S&P: BB-
|
| Fitch: BB-
|
|
Class F notes
|
Amount: | €10.4 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | Euribor plus 955 bps
|
Rating: | S&P: B-
|
| Fitch: B-
|
|
Subordinated notes
|
Amount: | €32.5 million
|
Securities: | Subordinated notes
|
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