Chicago, March 15 – Irradiant Partners, LP refinanced four notes for $377.4 million from a collateralized loan obligation issued by Rad CLO 5, Ltd., according to a press release.
The notes will mature on July 26, 2032.
The refinancing notes consist of $281.6 million of class AR senior secured floating-rate notes, $48 million of class BR senior secured floating-rate notes, $21.4 million of class CR mezzanine secured deferrable floating-rate notes and $26.4 million of class DR mezzanine secured deferrable floating-rate notes.
Irradiant Partners, LP will manage the collateral through the end of the remaining reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
J.P. Morgan Securities LLC was the placement agent.
Irradiant Partners is an alternative investment manager based in Santa Monica. The company was formed in 2021 through a spinoff from Kayne Anderson.
| Issuer: | Rad CLO 5, Ltd.
|
| Issue: | Floating-rate notes
|
| Amount: | $377.4 million
|
| Maturity: | July 26, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Irradiant Partners, LP
|
| Settlement date: | Dec. 17, 2021
|
|
|
| Class AR notes
|
| Amount: | $281.6 million
|
| Securities: | Senior Secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class BR notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa1
|
|
|
| Class CR notes
|
| Amount: | $21.4 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A1
|
|
|
| Class DR notes
|
| Amount: | $26.4 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
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