Chicago, March 4 – Canyon CLO Advisors LLC sold $508.6 million in a collateralized loan obligation being issued by Canyon CLO 2022-1 Ltd./Canyon CLO 2022-1 LLC, according to a pre-sale report.
The notes will mature on April 15, 2035.
The CLO consists of $320 million of class A senior secured floating-rate notes at SOFR plus 133 basis points, $60 million of class B senior secured floating-rate notes at SOFR plus 185 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 220 bps, $30 million of class D senior secured deferrable floating-rate notes at SOFR plus 320 bps, $20 million of class E senior secured deferrable floating-rate notes at SOFR plus 640 bps and $48.6 million of subordinated notes.
Canyon CLO Advisors LLC will manage the collateral through the end of the reinvestment period on April 15, 2027.
Collateral for the notes consists of by broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 15, 2024.
BofA Securities Inc. was the placement agent.
Canyon CLO Advisors is a Los Angeles-based subsidiary of alternative asset manager Canyon Capital Advisors LLC.
| Issuer: | Canyon CLO 2022-1 Ltd./Canyon CLO 2022-1 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $508.6 million
|
| Maturity: | April 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Canyon CLO Advisors LLC
|
| Call feature: | April 15, 2024
|
| Settlement date: | March 11
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 133 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 320 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 640 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $48.6 million
|
| Securities: | Subordinated notes
|
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