Chicago, April 18 – Nuveen Alternatives Advisors LLC and Churchill Asset Management LLC sold $447.2 million in a collateralized loan obligation being issued by Churchill MMSLF CLO-II LP/Churchill MMSLF CLO-II LLC, according to a presale report.
The notes will mature on Oct. 1, 2032.
The CLO consists of $123.25 million of class A-1 senior secured floating-rate notes at SOFR plus 230 basis points, $100 million of class A-L senior secured floating-rate notes at SOFR plus 230 bps, $40 million of class A-F 6.95% senior secured fixed-rate notes, $51.75 million of class B senior secured floating-rate notes at SOFR plus 325 bps, $132.2 million of class LP interests and $0 million of class GP interests.
Nuveen Alternatives Advisors LLC and Churchill Asset Management LLC will manage the collateral through the end of the reinvestment period on Oct. 1, 2024.
Collateral for the notes consists of middle-market- speculative-grade senior secured term loans.
The notes can be called starting Oct. 1, 2024.
Natixis Securities Americas LLC was the placement agent.
Based in New York, Churchill is an investment specialist affiliate of Nuveen (the asset manager of TIAA) that provides customized financing solutions to middle market private equity firms and their portfolio companies.
| Issuer: | Churchill MMSLF CLO-II LP/Churchill MMSLF CLO-II LLC
|
| Issue: | Floating-rate notes, fixed-rate notes, LP interests and GP interests
|
| Amount: | $447.2 million
|
| Maturity: | Oct. 1, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | Nuveen Alternatives Advisors LLC and Churchill Asset Management LLC
|
| Call feature: | Oct. 1, 2024
|
| Settlement date: | April 20
|
|
|
| Class A-1 notes
|
| Amount: | $123.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L notes
|
| Amount: | $100 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-F notes
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| Amount: | $40 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 6.95%
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
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| Amount: | $51.75 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 325 bps
|
| Rating: | S&P: AA
|
|
|
| Class LP interests
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| Amount: | $132.2 million
|
| Securities: | Class LP interests
|
|
|
| Class GP interests
|
| Amount: | $0 million
|
| Securities: | Class GP interests
|
|
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