Chicago, July 13 – Bain Capital Credit U.S. CLO Manager II, LP sold $396.5 million in a collateralized loan obligation issued by Bain Capital Credit CLO 2022-5, Ltd., according to a new issue report and a press release.
The notes will mature on July 24, 2034.
The CLO consists of $252 million of class A senior secured floating-rate notes at SOFR plus 190 basis points, $52 million of class B senior secured floating-rate notes at SOFR plus 260 bps, $22 million of class C secured deferrable floating-rate notes at SOFR plus 341 bps, $24 million of class D secured deferrable floating-rate notes at SOFR plus 439 bps, $14 million of class E secured deferrable floating-rate notes at SOFR plus 760 bps and $32.5 million of subordinated notes.
Bain Capital Credit U.S. CLO Manager II, LP will manage the collateral through the end of the reinvestment period in three years.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Jefferies LLC was the placement agent.
The asset management firm is based in Boston.
| Issuer: | Bain Capital Credit CLO 2022-5, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $396.5 million
|
| Maturity: | July 24, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Bain Capital Credit U.S. CLO Manager II, LP
|
| Settlement date: | July 8
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 260 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 341 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 439 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 760 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $32.5 million
|
| Securities: | Subordinated notes
|
|
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