Chicago, May 25 – CIFC Asset Management LLC sold $504 million in a collateralized loan obligation being issued by CIFC Funding 2022-IV, Ltd., according to multiple press releases.
The notes will mature on July 16, 2035.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at SOFR plus 143 basis points, $20 million of class A-2 senior secured floating-rate notes at SOFR plus 170 bps, $60 million of class B senior secured floating-rate notes at SOFR plus 200 bps, $30 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 240 bps, $30 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 355 bps, $20 million of class E junior secured deferrable floating-rate notes at SOFR plus 700 bps, $1 million of class F junior secured deferrable floating-rate notes at SOFR plus 809 bps and $43 million of subordinated notes.
CIFC Asset Management 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.
The investment adviser is based in New York.
| Issuer: | CIFC Funding 2022-IV, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $504 million
|
| Maturity: | July 16, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | CIFC Asset Management LLC
|
| Settlement date: | June 3
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 143 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 170 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 355 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 700 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | $1 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 809 bps
|
| Rating: | Moody's: B3
|
|
|
| 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.
