Chicago, Jan. 20 – Carlyle CLO Management LLC sold $454.92 million in a collateralized loan obligation being issued by Carlyle US CLO 2021-11 Ltd./Carlyle US CLO 2021-11 LLC, according to a pre-sale report.
The notes will mature on Jan. 25, 2033.
The CLO consists of $279 million of class A senior secured floating-rate notes at Libor plus 109.5 basis points, $63 million of class B senior secured floating-rate notes at Libor plus 170 bps, $27 million of class C senior secured deferrable floating-rate notes at Libor plus 205 bps, $27 million of class D senior secured deferrable floating-rate notes at Libor plus 300 bps, $18 million of class E senior secured deferrable floating-rate notes at Libor plus 640 bps and $40.92 million of subordinated notes..
Carlyle CLO Management LLC will manage the collateral through the end of the reinvestment period on Dec. 25, 2024.
The CLO will primarily be backed by broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Dec. 25, 2022.
Goldman Sachs & Co. LLC was the placement agent.
Carlyle CLO is a subsidiary of Washington, D.C.-based Carlyle Group.
| Issuer: | Carlyle US CLO 2021-11 Ltd./Carlyle US CLO 2021-11 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $454.92 million
|
| Maturity: | Jan. 25, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Carlyle CLO Management LLC
|
| Call feature: | Dec. 25, 2022
|
| Settlement date: | Dec. 30
|
|
|
| Class A notes
|
| Amount: | $279 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 109.5 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $63 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 640 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40.92 million
|
| Securities: | Subordinated notes
|
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