Chicago, May 12 – Octagon Credit Investors, LLC sold $905.8 million in a collateralized loan obligation being issued by Octagon 64, Ltd., according to a presale report and a press release.
The notes will mature on July 21, 2037.
The CLO consists of $4 million of class X senior secured floating-rate notes at SOFR plus 115 basis points, $527 million of class A-1 senior secured floating-rate notes at SOFR plus 150 bps, $25.5 million of class A-2 senior secured floating-rate notes at SOFR plus 175 bps, $77 million of class B-1 senior secured floating-rate notes at SOFR plus 210 bps, $16.5 million of class B-2 4.95% secured deferrable fixed-rate notes, $51 million of class C secured deferrable floating-rate notes at SOFR plus 280 bps, $51 million of class D secured deferrable floating-rate notes at SOFR plus 390 bps, $34 million of class E secured deferrable floating-rate notes at SOFR plus 760 bps, $1 million of class F secured deferrable floating-rate notes at SOFR plus 1005 bps, $ million of class senior secured floating-rate notes at SOFR plus bps, $ million of class senior deferrable floating-rate notes at SOFR plus bps, $ million of class senior deferrable floating-rate notes at SOFR plus bps, and$118.8 million of subordinated notes.
Octagon Credit Investors, LLC 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.
BofA Securities, Inc. was the placement agent.
Octagon Credit Investors is a New York-based credit investment firm that is majority owned by Conning & Co.
| Issuer: | Octagon 64, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $905.8 million
|
| Maturity: | July 21, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Octagon Credit Investors, LLC
|
| Settlement date: | June 14
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 115 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 notes
|
| Amount: | $527 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $25.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $77 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class B-2 notes
|
| Amount: | $16.5 million
|
| Securities: | Secured deferrable fixed-rate notes
|
| Coupon: | 4.95%
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $51 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 280 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $51 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $34 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 760 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | $1 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 1005 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $118.8 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.
