Chicago, Feb. 7 – Audax Management Co. (NY) LLC sold $611.35 million in a collateralized loan obligation being issued by Audax Senior Debt CLO 7 LLC, according to a presale report.
The notes will mature on April 20, 2035.
The CLO consists of $345 million of class A senior secured floating-rate notes at SOFR plus 285 basis points, $23 million of class B senior secured floating-rate notes at SOFR plus 380 bps, $40 million of class B-L senior secured floating-rate notes at SOFR plus 380 bps, $42 million of class C senior secured deferrable floating-rate notes at SOFR plus 470 bps, $36 million of class D senior secured deferrable floating-rate notes at SOFR plus 700 bps, $33 million of class E senior secured deferrable floating-rate notes at SOFR plus 800 bps and $92.35 million of subordinated notes.
Audax Management Co. (NY) LLC will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of broadly syndicated and middle-market speculative-grade senior secured term loans.
The notes can be called starting April 20, 2025.
BNP Paribas Securities Corp. was the placement agent.
The private equity firm is part of Boston-based middle-market investment firm Audax Group, Inc.
| Issuer: | Audax Senior Debt CLO 7 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $611.35 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Audax Management Co. (NY) LLC
|
| Call feature: | April 20, 2025
|
| Settlement date: | Feb. 23
|
|
|
| Class A notes
|
| Amount: | $345 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $23 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 380 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-L notes
|
| Amount: | $40 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 380 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $42 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 470 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 700 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $33 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 800 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $92.35 million
|
| Securities: | Subordinated notes
|
|
|
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