Chicago, Feb. 16 – Partners Group US Management CLO LLC sold $406.5 million in a collateralized loan obligation being issued by Pikes Peak CLO 12 Ltd., according to a presale report.
The notes will mature in April 2036.
The CLO consists of $222 million of class A senior secured floating-rate notes at SOFR plus 210 basis points, $30 million of class A-L floating-rate loans at SOFR plus 210 bps, $0 million of class A-N senior secured floating-rate notes at SOFR plus 210 bps, $45 million of class B senior secured floating-rate notes at SOFR plus 305 bps, $23 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 380 bps, $24.2 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 583 bps, $13.8 million of class E junior secured deferrable floating-rate notes at SOFR plus 915 bps and $48.5 million of subordinated notes.
Partners Group US Management CLO LLC will manage the collateral through the end of the reinvestment period in April 2028.
Collateral for the notes consists of non-investment-grade broadly syndicated loans.
The notes can be called starting February 2025.
BNP Paribas Securities Corp. is the placement agent.
The global private markets investment management firm has U.S. offices in Denver, New York and Houston.
| Issuer: | Pikes Peak CLO 12 Ltd.
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $406.5 million
|
| Maturity: | April 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Partners Group US Management CLO LLC
|
| Call feature: | February 2025
|
| Settlement date: | Feb. 17
|
|
|
| Class A notes
|
| Amount: | $222 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-L loans
|
| Amount: | $30 million
|
| Securities: | Floating-rate loans
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-N notes
|
| Amount: | $0 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $45 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 305 bps
|
|
|
| Class C notes
|
| Amount: | $23 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 380 bps
|
|
|
| Class D notes
|
| Amount: | $24.2 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 583 bps
|
|
|
| Class E notes
|
| Amount: | $13.8 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 915 bps
|
|
|
| Subordinated notes
|
| Amount: | $48.5 million
|
| Securities: | Subordinated notes
|
|
|
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