Chicago, Jan. 10 – CFI Partners LLC sold $444.2 million in a collateralized loan obligation being issued by CFIP CLO 2021-1 Ltd./CFIP CLO 2021-1 LLC, according to a pre-sale report.
The notes will mature on Jan. 20, 2035.
The CLO consists of $1.6 million of class X senior secured floating-rate notes at Libor plus 85 basis points, $281.6 million of class A senior secured floating-rate notes at Libor plus 122 bps, $44.8 million of class B-1 senior secured floating-rate notes at Libor plus 190 bps, $8 million of class B-2 3.32% senior secured fixed-rate notes, $18 million of class C-1 senior secured deferrable floating-rate notes at Libor plus 240 bps, $8.4 million of class C-2 3.97% senior secured deferrable fixed-rate notes, $26.4 million of class D senior secured deferrable floating-rate notes at Libor plus 354 bps, $15.4 million of class E senior secured deferrable floating-rate notes at Libor plus 697 bps and $40 million of subordinated notes.
CFI Partners LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2027.
The notes will be collateralized by broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Dec. 15, 2023.
Wells Fargo Securities LLC was the placement agent.
CFI Partners is a Chicago-based asset management firm.
| Issuer: | CFIP CLO 2021-1 Ltd./CFIP CLO 2021-1 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $444.2 million
|
| Maturity: | Jan. 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities LLC
|
| Manager: | CFI Partners LLC
|
| Call feature: | Dec. 15, 2023
|
| Settlement date: | Dec. 15
|
|
|
| Class X notes
|
| Amount: | $1.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 85 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $281.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 122 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $44.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.32%
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
|
| Amount: | $8.4 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 3.97%
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $26.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 354 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $15.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 697 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40 million
|
| Securities: | Subordinated notes
|
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