Chicago, Dec. 21 – CIFC Asset Management LLC sold $489.3 million in a collateralized loan obligation being issued by CIFC Funding 2022-VII, Ltd./CIFC Funding 2022-VII, LLC, according to a presale report.
The notes will mature on Oct. 22, 2035.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at SOFR plus 215 basis points, $7.5 million of class A-2A senior secured floating-rate notes at SOFR plus 270 bps, $7.5 million of class A-2B 6.43% senior secured fixed-rate notes, $42 million of class B-1 senior secured floating-rate notes at SOFR plus 300 bps, $10 million of class B-2 6.71% senior secured fixed-rate notes, $29.25 million of class C senior secured deferrable floating-rate notes at SOFR plus 385 bps, $33.75 million of class D senior secured deferrable floating-rate notes at SOFR plus 535 bps, $15.75 million of class E senior secured deferrable floating-rate notes at SOFR plus 894 bps, $1 million of class F junior secured deferrable floating-rate notes at SOFR plus 804 bps and $42.55 million of subordinated notes.
CIFC Asset Management LLC will manage the collateral through the end of the reinvestment period on Oct. 22, 2027.
Collateral for the notes consists of non-investment-grade broadly syndicated loans and other assets.
The notes can be called starting Oct. 22, 2024.
Barclays was the placement agent.
The investment adviser is based in New York.
Issuer: | CIFC Funding 2022-VII, Ltd./CIFC Funding 2022-VII, LLC
|
Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
Amount: | $489.3 million
|
Maturity: | Oct. 22, 2035
|
Structure: | Cash flow CLO
|
Placement agent: | Barclays
|
Manager: | CIFC Asset Management LLC
|
Call feature: | Oct. 22, 2024
|
Settlement date: | Nov. 29
|
|
Class A-1 notes
|
Amount: | $300 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | SOFR plus 215 bps
|
Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
Class A-2A notes
|
Amount: | $7.5 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | SOFR plus 270 bps
|
Rating: | Moody's:
|
| Fitch: AAA
|
|
Class A-2B notes
|
Amount: | $7.5 million
|
Securities: | Senior secured fixed-rate notes
|
Coupon: | 6.43%
|
Rating: | Fitch: AAA
|
|
Class B-1 notes
|
Amount: | $42 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | SOFR plus 300 bps
|
Rating: | Fitch: AA
|
|
Class B-2 notes
|
Amount: | $10 million
|
Securities: | Senior secured fixed-rate notes
|
Coupon: | 6.71%
|
Rating: | Fitch: AA
|
|
Class C notes
|
Amount: | $29.25 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | SOFR plus 385 bps
|
Rating: | Fitch: A
|
|
Class D notes
|
Amount: | $33.75 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | SOFR plus 535 bps
|
Rating: | Fitch: BBB-
|
|
Class E notes
|
Amount: | $15.75 million
|
Securities: | Senior secured deferrable floating-rate notes
|
Coupon: | SOFR plus 894 bps
|
Rating: | Fitch: BB-
|
|
Class F notes
|
Amount: | $1 million
|
Securities: | Junior secured deferrable floating-rate notes
|
Coupon: | SOFR plus 804 bps
|
Rating: | Moody's: B3
|
|
Subordinated notes
|
Amount: | $42.55 million
|
Securities: | Subordinated notes
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.