Chicago, May 16 – Octagon Credit Investors, LLC sold $409.05 million in a collateralized loan obligation issued by Octagon 61, Ltd., according to multiple press releases.
The notes will mature on April 20, 2036.
The CLO consists of $256 million of class A senior secured floating-rate notes at SOFR plus 185 basis points, $48 million of class B senior secured floating-rate notes at SOFR plus 235 bps, $22 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 300 bps, $24.6 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 550 bps, $13.4 million of class E junior secured deferrable floating-rate notes at SOFR plus 826 bps, $7.78 million of class F junior secured deferrable floating-rate notes at SOFR plus 743 bps and $36.27 million of subordinated notes A and $1 million of subordinated notes B.
Octagon Credit Investors, 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.
Octagon Credit Investors is a New York-based credit investment firm that is majority owned by Conning & Co.
| Issuer: | Octagon 61, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $409.05 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Octagon Credit Investors, LLC
|
| Call feature: | April 21, 2025
|
| Settlement date: | April 27
|
|
|
| Class A notes
|
| Amount: | $256 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 235 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $24.6 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 550 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.4 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 826 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $7.78 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 743 bps
|
| Rating: | Fitch: B-
|
|
|
| Subordinated notes A
|
| Amount: | $36.27 million
|
| Securities: | Subordinated notes
|
|
|
| Subordinated notes B
|
| Amount: | $1 million
|
| Securities: | Subordinated notes
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
