Chicago, March 17 – Post Advisory Group LLC sold $403.4 million in a collateralized loan obligation being issued by Post CLO 2022-1 Ltd./Post CLO 2022-1 LLC, according to a pre-sale report.
The notes will mature on April 20, 2035.
The CLO consists of $252 million of class A senior secured floating-rate notes at SOFR plus 138 basis points, $52 million of class B senior secured floating-rate notes at SOFR plus 190 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 210 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 320 bps, $16 million of class E senior secured deferrable floating-rate notes at SOFR plus 675 bps and $35.4 million of subordinated notes.
Post Advisory Group LLC will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting March 29, 2024.
J.P. Morgan Securities LLC was the placement agent.
Post Advisory Group is an asset manager based in Los Angeles.
| Issuer: | Post CLO 2022-1 Ltd./Post CLO 2022-1 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $403.4 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Post Advisory Group LLC
|
| Call feature: | March 29, 2024
|
| Settlement date: | March 29
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 138 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: A+
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 320 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 675 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $35.4 million
|
| Securities: | Subordinated notes
|
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