Chicago, Jan. 26 – Flatiron RR LLC sold $406.3 million in a collateralized loan obligation being issued by Flatiron RR CLO 22 LLC, according to multiple notices.
The notes will mature on Oct. 16, 2034.
The CLO consists of $3 million of class X senior secured floating-rate notes at Libor plus 75 basis points, $256 million of class A senior secured floating-rate notes at Libor plus 115 bps, $46.4 million of class B senior secured floating-rate notes at Libor plus 160 bps, $20.2 million of class C senior secured deferrable floating-rate notes at Libor plus 200 bps, $25.8 million of class D senior secured deferrable floating-rate notes at Libor plus 310 bps, $19.6 million of class E senior secured deferrable floating-rate notes at Libor plus 620 bps and $35.3 million of subordinated notes.
Flatiron RR LLC will manage the collateral through the end of the five-year reinvestment period.
The notes will be collateralized by first-lien senior secured leveraged loans.
Morgan Stanley & Co. LLC was the placement agent.
Flatiron RR is an affiliate of NYL Investors LLC.
Issuer: | Flatiron RR CLO 22 LLC
|
Issue: | Floating-rate notes and subordinated notes
|
Amount: | $406.3 million
|
Maturity: | Oct. 16, 2034
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Structure: | Cash flow CLO
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Placement agent: | Morgan Stanley & Co. LLC
|
Manager: | Flatiron RR LLC
|
Settlement date: | Nov. 5
|
|
Class X notes
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Amount: | $3 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Libor plus 75 bps
|
Rating: | Moody's: Aaa
|
| Fitch: NR
|
|
Class A notes
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Amount: | $256 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 115 bps
|
Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
Class B notes
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Amount: | $46.4 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 160 bps
|
Rating: | Moody's: Aa2
|
| Fitch: NR
|
|
Class C notes
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Amount: | $20.2 million
|
Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 200 bps
|
Rating: | Moody's: A2
|
| Fitch: NR
|
|
Class D notes
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Amount: | $25.8 million
|
Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 310 bps
|
Rating: | Moody's: Baa3
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| Fitch: NR
|
|
Class E notes
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Amount: | $19.6 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 620 bps
|
Rating: | Moody's: Ba3
|
| Fitch: NR
|
|
Subordinated notes
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Amount: | $35.3 million
|
Securities: | Subordinated notes
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