Chicago, May 27 – Rockford Tower Capital Management, LLC sold $505.4 million in a collateralized loan obligation being issued by Rockford Tower CLO 2022-1, Ltd., according to multiple press releases.
The notes will mature on July 20, 2035.
The CLO consists of $287.9 million of class A-1 senior secured floating-rate notes at SOFR plus 154 basis points, $32.1 million of class A-2 4.35% senior secured fixed-rate notes, $60 million of class B senior secured floating-rate notes at SOFR plus 210 bps, $30 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 260 bps, $30 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 395 bps, $20 million of class E junior secured deferrable floating-rate notes at SOFR plus 734 bps and $45.4 million of subordinated notes.
Rockford Tower Capital Management, LLC will manage the collateral through the end of the 5.2-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Barclays was the placement agent.
Rockford Tower Capital Management is a Dover, Del., limited liability company.
| Issuer: | Rockford Tower CLO 2022-1, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $505.4 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Rockford Tower Capital Management, LLC
|
| Settlement date: | May 26
|
|
|
| Class A-1 notes
|
| Amount: | $287.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 154 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $32.1 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.35%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 260 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 395 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 734 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $45.4 million
|
| Securities: | Subordinated notes
|
|
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