Chicago, June 26 – ZAIS Leveraged Loan Master Manager LLC priced $345.63 million in a collateralized loan obligation being issued by ZAIS CLO 19 Ltd./ZAIS CLO 19 LLC, according to a presale report.
The notes will mature on July 25, 2033.
The CLO consists of $210 million of class A-1 senior secured floating-rate notes at SOFR plus 232 basis points, $17.5 million of class A-J senior secured floating-rate notes at SOFR plus 275 bps, $33.5 million of class B-1 senior secured floating-rate notes at SOFR plus 320 bps, $5 million of class B-F 7.% senior secured fixed-rate notes, $18 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 415 bps, $3 million of class C-F 7.8% senior secured deferrable fixed-rate notes, $14 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 626 bps, $3.5 million of class D-J senior secured deferrable floating-rate notes at SOFR plus 740 bps, $12.25 million of class E senior secured deferrable floating-rate notes at SOFR plus 850 bps and $28.875 million of subordinated notes.
ZAIS Leveraged Loan Master Manager LLC will manage the collateral through the end of the reinvestment period on July 25, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting July 25, 2033.
Jefferies LLC was the placement agent.
Zais Group, LLC is a structured credit asset management firm based in Red Bank, N.J.
| Issuer: | ZAIS CLO 19 Ltd./ZAIS CLO 19 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $345,625,000
|
| Maturity: | July 25, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | ZAIS Leveraged Loan Master Manager LLC
|
| Call feature: | July 25, 2033
|
| Settlement date: | July 25
|
|
|
| Class A-1 notes
|
| Amount: | $210 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 232 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-J notes
|
| Amount: | $17.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $33.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 320 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-F notes
|
| Amount: | $5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7.%
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 415 bps
|
| Rating: | S&P: A
|
|
|
| Class C-F notes
|
| Amount: | $3 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 7.8%
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 626 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-J notes
|
| Amount: | $3.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 740 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 850 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $28.875 million
|
| Securities: | Subordinated notes
|
|
|
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