Chicago, Dec. 7 – Tikehau Structured Credit Management LLC priced $505.25 million of notes in a collateralized loan obligation being issued by Tikehau US CLO V Ltd./Tikehau US CLO V LLC, according to a presale report.
The notes will mature on Jan. 15, 2036.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at SOFR plus 195 basis points, $20 million of class A-2 senior secured floating-rate notes at SOFR plus 225 bps, $50 million of class B-1 senior secured floating-rate notes at SOFR plus 290 bps, $10 million of class B-2 7.02% senior secured fixed-rate notes, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 335 bps, $27.5 million of class D senior secured deferrable floating-rate notes at SOFR plus 595 bps, $16.25 million of class E senior secured deferrable floating-rate notes at SOFR plus 858 bps and $51.5 million of subordinated notes.
Tikehau Structured Credit Management LLC will manage the collateral through the end of the reinvestment period on Jan. 15, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 15, 2026.
Goldman Sachs & Co. LLC was the placement agent.
Tikehau is an alternative investment manager based in Paris.
| Issuer: | Tikehau US CLO V Ltd./Tikehau US CLO V LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $505.25 million
|
| Maturity: | Jan. 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Tikehau Structured Credit Management LLC
|
| Call feature: | Jan. 15, 2026
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 13
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7.02%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 335 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $27.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 595 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 858 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $51.5 million
|
| Securities: | Subordinated notes
|
|
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