Chicago, June 1 – Bain Capital Credit U.S. CLO Manager II, LP sold $503 million in a collateralized loan obligation issued by Bain Capital Credit CLO 2022-3, Ltd., according to multiple press releases.
The notes will mature on July 17, 2035.
The CLO consists of $310 million of class A-1 senior secured floating-rate notes at SOFR plus 142 basis points, $15 million of class A-2 senior secured floating-rate notes at SOFR plus 175 bps, $55 million of class B senior secured deferrable floating-rate notes at SOFR plus 200 bps, $30 million of class C secured deferrable floating-rate notes at SOFR plus 240 bps, $30 million of class D secured deferrable floating-rate notes at SOFR plus 370 bps, $20 million of class E secured deferrable floating-rate notes at SOFR plus 735 bps and $43 million of subordinated notes.
Bain Capital Credit U.S. CLO Manager II, LP will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Goldman Sachs & Co. LLC was the placement agent.
The asset management firm is based in Boston.
| Issuer: | Bain Capital Credit CLO 2022-3, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $503 million
|
| Maturity: | July 17, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Bain Capital Credit U.S. CLO Manager II, LP
|
| Settlement date: | May 31
|
|
|
| Class A-1 notes
|
| Amount: | $310 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 142 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 370 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 735 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $43 million
|
| Securities: | Subordinated notes
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
