Chicago, Jan. 13 – Capital Four US Inc. sold $389.2 million in a collateralized loan obligation being issued by Capital Four US CLO III Ltd., according to multiple press releases.
The notes will mature on Jan. 21, 2035.
The CLO consists of $252 million of class A-1 senior secured floating-rate notes at SOFR plus 250 basis points, $12 million of class A-2 senior secured floating-rate notes at SOFR plus 300 bps, $32 million of class B senior secured floating-rate notes at SOFR plus 335 bps, $24 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 425 bps, $21.5 million of class D-1 mezzanine secured deferrable floating-rate notes at SOFR plus 580 bps, $2.5 million of class D-2 9.32% mezzanine secured deferrable fixed-rate notes, $10.8 million of class E junior secured deferrable floating-rate notes at SOFR plus 845 bps and $34.4 million of subordinated notes.
Capital Four US Inc. will manage the collateral through the end of the reinvestment period on Jan. 15, 2027.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting Jan. 15, 2025.
The CLO manager is part of Copenhagen-based credit asset management firm.
| Issuer: | Capital Four US CLO III Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $389.2 million
|
| Maturity: | Jan. 21, 2035
|
| Structure: | Cash flow CLO
|
| Manager: | Capital Four US Inc.
|
| Call feature: | Jan. 15, 2025
|
| Settlement date: | Jan. 3
|
|
|
| Class A-1 notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class B notes
|
| Amount: | $32 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 335 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
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| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | $21.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 580 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class D-2 notes
|
| Amount: | $2.5 million
|
| Securities: | Mezzanine secured deferrable fixed-rate notes
|
| Coupon: | 9.32%
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.8 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 845 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $34.4 million
|
| Securities: | Subordinated notes
|
|
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