Chicago, May 19 – Putnam Advisory Co. LLC sold $353.8 million in a collateralized loan obligation issued by 37 Capital CLO 3, Ltd., according to multiple press releases.
The notes will mature on April 15, 2036.
The CLO consists of $183.5 million of class A-1 senior secured floating-rate notes at SOFR plus 205 basis points, $30 million of class A-1 senior secured floating-rate notes at SOFR plus 205 bps, $7 million of class A-2 senior secured floating-rate notes at SOFR plus 220 bps, $44.5 million of class B senior secured floating-rate notes at SOFR plus 270 bps, $21 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 360 bps, $20.3 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 636 bps, $9.8 million of class E junior secured deferrable floating-rate notes at SOFR plus 903 bps, $1 million of class F junior secured deferrable floating-rate notes at SOFR plus 890 bps and $36.7 million of subordinated notes.
Putnam Advisory Co. LLC will manage the collateral through the end of the 4.9-year reinvestment period.
Collateral for the notes consists of senior secured leveraged loans.
A subsidiary of Putnam Investments, the capital market company is based in Boston, Mass.
| Issuer: | 37 Capital CLO 3, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $353.8 million
|
| Maturity: | April 15, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Putnam Advisory Co. LLC
|
| Settlement date: | May 11
|
|
|
| Class A-1 notes
|
| Amount: | $183.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1 notes
|
| Amount: | $30 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $44.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $21 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $20.3 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 636 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $9.8 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 903 bps
|
| Rating: | Fitch: BB+
|
|
|
| Class F notes
|
| Amount: | $1 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 890 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $36.7 million
|
| Securities: | Subordinated notes
|
|
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