Chicago, March 15 – Irradiant Partners, LP sold $406.2 million in a collateralized loan obligation issued by Rad CLO 15, Ltd., according to a press release.
The notes will mature on Jan. 20, 2034.
The CLO consists of $252 million of class A senior secured floating-rate notes, $52 million of class B senior secured floating-rate notes, $24 million of class C mezzanine secured deferrable floating-rate notes, $24 million of class D mezzanine secured deferrable floating-rate notes, $15 million of class E junior secured deferrable floating-rate notes and $39.2 million of subordinated notes.
Irradiant Partners, LP will manage the collateral through the end of the three-year reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
BofA Securities, Inc. 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 15, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $406.2 million
|
| Maturity: | Jan. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Irradiant Partners, LP
|
| Settlement date: | Dec. 17, 2021
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Senior Secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior Secured floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $39.2 million
|
| Securities: | Subordinated notes
|
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