Chicago, May 18 – NYL Investors LLC sold $402.6 million in a collateralized loan obligation being issued by Flatiron CLO 23 LLC, according to multiple press releases.
The notes will mature on April 17, 2036.
The CLO consists of $256 million of class A senior secured floating-rate notes at SOFR plus 180 basis points, $48 million of class B senior secured floating-rate notes at SOFR plus 245 bps, $22.8 million of class C senior secured floating-rate notes at SOFR plus 335 bps, $24.4 million of class D senior secured deferrable floating-rate notes at SOFR plus 525 bps, $11.8 million of class E senior secured deferrable floating-rate notes at SOFR plus 800 bps, $1 million of class F senior secured deferrable floating-rate notes at SOFR plus 891 bps and $38.6 million of subordinated notes.
NYL Investors LLC will manage the collateral through the end of the 4.9-year reinvestment period.
Collateral for the notes consists of senior secured leveraged loans.
NYL Investors is a New York-based subsidiary of mutual life insurance company New York Life Insurance Co.
Issuer: | Flatiron CLO 23 LLC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $402.6 million
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Maturity: | April 17, 2036
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Structure: | Cash flow CLO
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Manager: | NYL Investors LLC
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Settlement date: | May 9
|
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Class A notes
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Amount: | $256 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 180 bps
|
Rating: | Moody's: Aaa
|
|
Class B notes
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Amount: | $48 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 245 bps
|
Rating: | Fitch: AA
|
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Class C notes
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Amount: | $22.8 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 335 bps
|
Rating: | Fitch: A
|
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Class D notes
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Amount: | $24.4 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 525 bps
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Rating: | Fitch: BBB-
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Class E notes
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Amount: | $11.8 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 800 bps
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Rating: | Fitch: BB-
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Class F notes
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Amount: | $1 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 891 bps
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Rating: | Moody's: B3
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Subordinated notes
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Amount: | $38.6 million
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Securities: | Subordinated notes
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