Chicago, July 8 – Generate Advisors, LLC sold $399.8 million in a collateralized loan obligation being issued by Generate CLO 10 Ltd., according to a new issue report and a press release.
The notes will mature on July 22, 2035.
The CLO consists of $242 million of class A-1 floating-rate notes at SOFR plus 160 basis points, $14 million of class A-2 4.15% fixed-rate notes, $23 million of class B-1 floating-rate notes at SOFR plus 240 bps, $21 million of class B-2 4.84% fixed-rate notes, $25.6 million of class C deferrable floating-rate notes at SOFR plus 306 bps, $18.4 million of class D-1 deferrable floating-rate notes at SOFR plus 435 bps, $7.5 million of class D-2 deferrable floating-rate notes at SOFR plus 585 bps, $13.3 million of class E deferrable floating-rate notes at SOFR plus 807 bps, $1 million of class F deferrable floating-rate notes at SOFR plus 960 bps and $34 million of subordinated notes.
Generate Advisors, LLC will manage the collateral through the end of the reinvestment period in five-years.
Collateral for the notes consists of first-lien senior secured leveraged loans.
BofA Securities, Inc. was the placement agent.
Generate Advisors LLC is controlled by Kennedy Lewis Investment Management LLC.
Issuer: | Generate CLO 10 Ltd.
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $399.8 million
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Maturity: | July 22, 2035
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Structure: | Cash flow CLO
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Placement agent: | BofA Securities, Inc.
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Manager: | Generate Advisors, LLC
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Settlement date: | July 6
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Class A-1 notes
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Amount: | $242 million
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Securities: | Floating-rate notes
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Coupon: | SOFR plus 160 bps
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Rating: | Moody's: Aaa
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Class A-2 notes
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Amount: | $14 million
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Securities: | Fixed-rate notes
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Coupon: | 4.15%
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Rating: | Moody's: Aaa
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Class B-1 notes
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Amount: | $23 million
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Securities: | Floating-rate notes
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Coupon: | SOFR plus 240 bps
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Rating: | Fitch: AA
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Class B-2 notes
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Amount: | $21 million
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Securities: | Fixed-rate notes
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Coupon: | 4.84%
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Rating: | Fitch: AA
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Class C notes
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Amount: | $25.6 million
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Securities: | Deferrable floating-rate notes
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Coupon: | SOFR plus 306 bps
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Rating: | Fitch: A
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Class D-1 notes
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Amount: | $18.4 million
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Securities: | Deferrable floating-rate notes
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Coupon: | SOFR plus 435 bps
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Rating: | Fitch: BBB+
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Class D-2 notes
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Amount: | $7.5 million
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Securities: | Deferrable floating-rate notes
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Coupon: | SOFR plus 585 bps
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Rating: | Fitch: BBB-
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Class E notes
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Amount: | $13.3 million
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Securities: | Deferrable floating-rate notes
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Coupon: | SOFR plus 807 bps
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Rating: | Fitch: BB-
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Class F notes
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Amount: | $1 million
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Securities: | Deferrable floating-rate notes
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Coupon: | SOFR plus 960 bps
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Rating: | Moody's: B3
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Subordinated notes
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Amount: | $34 million
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Securities: | Subordinated notes
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