Chicago, May 2 – Octagon Credit Investors, LLC sold $501 million in a collateralized loan obligation being issued by Octagon 67, Ltd., according to multiple press releases.
The notes will mature on April 25, 2036.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at SOFR plus 180 basis points, $10 million of class A-2 senior secured floating-rate notes at SOFR plus 200 bps, $70 million of class B senior secured floating-rate notes at SOFR plus 240 bps, $30 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 310 bps, $27.5 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 520 bps, $17.5 million of class E junior secured deferrable floating-rate notes at SOFR plus 800 bps and $46 million of subordinated notes.
Octagon Credit Investors, LLC will manage the collateral through the end of the reinvestment period on April 25, 2028.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting April 25, 2025.
Octagon Credit Investors is a New York-based credit investment firm that is majority owned by Conning & Co.
| Issuer: | Octagon 67, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $501 million
|
| Maturity: | April 25, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Octagon Credit Investors, LLC
|
| Call feature: | April 25, 2025
|
| Settlement date: | March 29
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $70 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
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| Amount: | $30 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $27.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 520 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
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| Amount: | $17.5 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 800 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $46 million
|
| Securities: | Subordinated notes
|
|
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