Chicago, Aug. 1 – Canyon CLO Advisors LP priced $402.83 million in a collateralized loan obligation being issued by Canyon CLO 2023-1 Ltd./Canyon CLO 2023-1 LLC, according to a presale report.
The notes will mature on Oct. 15, 2036.
The CLO consists of $252 million of class A senior secured floating-rate notes at SOFR plus 186 basis points, $52 million of class B senior secured floating-rate notes at SOFR plus 265 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 300 bps, $22 million of class D senior secured deferrable floating-rate notes at SOFR plus 500 bps, $12 million of class E senior secured deferrable floating-rate notes at SOFR plus 798 bps and $40.83 million of subordinated notes.
Canyon CLO Advisors LP will manage the collateral through the end of the reinvestment period on Sept. 7, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Sept. 7, 2025.
Goldman Sachs & Co. LLC was the placement agent.
Canyon CLO Advisors is a Los Angeles-based subsidiary of alternative asset manager Canyon Capital Advisors LLC.
| Issuer: | Canyon CLO 2023-1 Ltd./Canyon CLO 2023-1 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $402.83 million
|
| Maturity: | Oct. 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Canyon CLO Advisors LP
|
| Call feature: | Sept. 7, 2025
|
| Pricing date: | July 27
|
| Settlement date: | Sept. 7
|
|
|
| Class A notes
|
| Amount: | $252 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 186 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 500 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 798 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40.83 million
|
| Securities: | Subordinated notes
|
|
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