Chicago, June 23 – Oaktree Capital Management LP sold $496.8 million in a collateralized loan obligation being issued by Oaktree CLO 2022-2 Ltd./Oaktree CLO 2022-2 LLC, according to a presale report.
The notes will mature on July 15, 2033.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at SOFR plus 200 basis points, $15 million of class A-2 senior secured floating-rate notes at SOFR plus 230 bps, $65 million of class B senior secured floating-rate notes at SOFR plus 275 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 350 bps, $30 million of class D senior secured deferrable floating-rate notes at SOFR plus 462 bps, $15 million of class E senior secured deferrable floating-rate notes at SOFR plus 834 bps and $41.8 million of subordinated notes.
Oaktree Capital Management LP will manage the collateral through the end of the reinvestment period on Jan. 15, 2025.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 15, 2024.
BofA Securities Inc. was the placement agent.
The Los Angeles-based asset management firm is a subsidiary of Oaktree Capital Group, LLC.
| Issuer: | Oaktree CLO 2022-2 Ltd./Oaktree CLO 2022-2 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $496.8 million
|
| Maturity: | July 15, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Oaktree Capital Management LP
|
| Call feature: | Jan. 15, 2024
|
| Settlement date: | June 29
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 462 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 834 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $41.8 million
|
| Securities: | Subordinated notes
|
|
|
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