Chicago, June 30 – Elmwood Asset Management LLC sold $502 million in a collateralized loan obligation issued by Elmwood CLO 17 Ltd., according to a report and a press release.
The notes will mature on July 17, 2035.
The CLO consists of $320 million of class A floating-rate notes at SOFR plus 154 basis points, $60 million of class B floating-rate notes at SOFR plus 205 bps, $30 million of class C deferrable floating-rate notes at SOFR plus 250 bps, $30 million of class D deferrable floating-rate notes at SOFR plus 400 bps, $19 million of class E deferrable floating-rate notes at SOFR plus 715 bps and $43 million of subordinated notes.
Elmwood 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.
RBC Capital Markets, LLC was the placement agent.
The hedge fund is based in New York.
| Issuer: | Elmwood CLO 17 Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $502 million
|
| Maturity: | July 17, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | RBC Capital Markets, LLC
|
| Manager: | Elmwood Asset Management LLC
|
| Settlement date: | June 22
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 154 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $19 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 715 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $43 million
|
| Securities: | Subordinated notes
|
|
|
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