Chicago, May 11 – Partners Group US Management CLO LLC sold $340.7 million in a collateralized loan obligation issued by Pikes Peak CLO 14 (2023) Ltd., according to a presale report.
The notes will mature on April 21, 2036.
The CLO consists of $198.9 million of class A-1 senior secured floating-rate notes at SOFR plus 195 basis points, $17.5 million of class A-2 senior secured floating-rate notes at SOFR plus 225 bps, $37.75 million of class B senior secured floating-rate notes at SOFR plus 250 bps, $21.25 million of class C senior secured floating-rate notes at SOFR plus 330 bps, $14.75 million of class D senior secured floating-rate notes at SOFR plus 545 bps, $17.55 million of class E senior secured floating-rate notes at SOFR plus 858 bps and $33 million of subordinated notes.
Partners Group US Management CLO LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of senior secured leveraged loans.
The notes can be called starting April 21, 2025.
Morgan Stanley & Co. LLC was the placement agent.
The global private markets investment management firm has U.S. offices in Denver, New York and Houston.
| Issuer: | Pikes Peak CLO 14 (2023) Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $340.7 million
|
| Maturity: | April 21, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Partners Group US Management CLO LLC
|
| Call feature: | April 21, 2025
|
| Settlement date: | April 21
|
|
|
| Class A-1 notes
|
| Amount: | $198.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $17.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $37.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $21.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 330 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $14.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 545 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | $17.55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 858 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $33 million
|
| Securities: | Subordinated notes
|
|
|
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