Chicago, Feb. 17 – OFS CLO Management II LLC sold $300.35 million in a collateralized loan obligation being issued by OFSI BSL XII CLO Ltd./OFSI BSL XII CLO LLC, according to a presale report.
The notes will mature on Jan. 20, 2035.
The CLO consists of $180 million of class A-1 senior secured floating-rate notes at SOFR plus 240 basis points, $9 million of class A-J senior secured floating-rate notes at SOFR plus 290 bps, $39 million of class B senior secured floating-rate notes at SOFR plus 315 bps, $16.5 million of class C senior secured deferrable floating-rate notes at SOFR plus 385 bps, $7.5 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 595 bps, $9 million of class D-2 9.12% senior secured deferrable fixed-rate notes, $10.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 885 bps and $28.85 million of subordinated notes.
OFS CLO Management II LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2026.
Collateral for the notes consists of senior secured loans, cash and eligible investments with most borrowers based in the United States.
The notes can be called starting Jan. 20, 2025.
Goldman Sachs & Co. LLC was the placement agent.
The CLO manager is a Chicago-based advisory firm.
| Issuer: | OFSI BSL XII CLO Ltd./OFSI BSL XII CLO LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $300.35 million
|
| Maturity: | Jan. 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | OFS CLO Management II LLC
|
| Call feature: | Jan. 20, 2025
|
| Settlement date: | Feb. 22
|
|
|
| Class A-1 notes
|
| Amount: | $180 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-J notes
|
| Amount: | $9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $39 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $16.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 385 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $7.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 595 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D-2 notes
|
| Amount: | $9 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 9.12%
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 885 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $28.85 million
|
| Securities: | Subordinated notes
|
|
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