Chicago, June 22 – Bain Capital Credit U.S. CLO Manager II, LP sold $501.3 million in a collateralized loan obligation being issued by Bain Capital Credit CLO 2022-4, Ltd., according to a presale report and a press release.
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 150 basis points, $25 million of class A-2 senior secured floating-rate notes at SOFR plus 196 bps, $35 million of class B-1 senior secured floating-rate notes at SOFR plus 225 bps, $20 million of class B-2 4.75% senior secured fixed-rate notes, $30 million of class C secured deferrable floating-rate notes at SOFR plus 275 bps, $30 million of class D secured deferrable floating-rate notes at SOFR plus 414 bps, $20 million of class E secured deferrable floating-rate notes at SOFR plus 768 bps and $41.3 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.
Barclays was the placement agent.
The asset management firm is based in Boston.
| Issuer: | Bain Capital Credit CLO 2022-4, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $501.3 million
|
| Maturity: | July 16, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Bain Capital Credit U.S. CLO Manager II, LP
|
| Settlement date: | June 23
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 196 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $35 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.75%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 414 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 768 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $41.3 million
|
| Securities: | Subordinated notes
|
|
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