Chicago, April 26 – BH Credit Management LLC sold $397.75 million in a collateralized loan obligation issued by Barrow Hanley CLO I, Ltd., according to a presale report and a press release.
The notes will mature on April 20, 2035.
The CLO consists of $231 million of class A-1 senior secured floating-rate notes at SOFR plus 230 basis points, $23.1 million of class A-2 senior secured floating-rate notes at SOFR plus 265 bps, $37.5 million of class B senior secured floating-rate notes at SOFR plus 300 bps, $21.2 million of class C secured deferrable floating-rate notes at SOFR plus 400 bps, $22.2 million of class D secured deferrable floating-rate notes at SOFR plus 616 bps, $11.5 million of class E secured deferrable floating-rate notes at SOFR plus 900 bps, $950,000 of class F secured deferrable floating-rate notes at SOFR plus 790 bps and $50.3 million of subordinated notes.
BH Credit Management LLC will manage the collateral through the end of the reinvestment period on April 20, 2026.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting April 22, 2024.
Based in Dallas, Barrow Hanley focuses on value investing.
| Issuer: | Barrow Hanley CLO I, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $397.75million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Manager: | BH Credit Management LLC
|
| Call feature: | April 22, 2024
|
| Settlement date: | March 17
|
|
|
| Class A-1 notes
|
| Amount: | $231 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $23.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $37.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $21.2 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $22.2 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 616 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $11.5 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 900 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $950,000
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 790 bps
|
|
|
| Subordinated notes
|
| Amount: | $50.3 million
|
| Securities: | Subordinated notes
|
|
|
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