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.
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $503 million
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Maturity: | July 17, 2035
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Structure: | Cash flow CLO
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Placement agent: | Goldman Sachs & Co. LLC
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Manager: | Bain Capital Credit U.S. CLO Manager II, LP
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Settlement date: | May 31
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|
Class A-1 notes
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Amount: | $310 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 142 bps
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Rating: | Moody's: Aaa
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| Fitch: AAA
|
|
Class A-2 notes
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Amount: | $15 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 175 bps
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Rating: | Fitch: AAA
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|
Class B notes
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Amount: | $55 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 200 bps
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Rating: | Fitch: AA
|
|
Class C notes
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Amount: | $30 million
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Securities: | Secured deferrable floating-rate notes
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Coupon: | SOFR plus 240 bps
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Rating: | Fitch: A
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Class D notes
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Amount: | $30 million
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Securities: | Secured deferrable floating-rate notes
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Coupon: | SOFR plus 370 bps
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Rating: | Fitch: BBB-
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|
Class E notes
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Amount: | $20 million
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Securities: | Secured deferrable floating-rate notes
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Coupon: | SOFR plus 735 bps
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Rating: | Fitch: BB-
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Subordinated notes
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Amount: | $43 million
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Securities: | Subordinated notes
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