Chicago, Aug. 28 – Generate Advisors LLC sold $400 million of notes and loans in a collateralized loan obligation being issued by Generate CLO 12 Ltd./Generate CLO 12 LLC, according to a presale report.
The CLO will mature on July 20, 2036.
The CLO consists of $206 million of class A senior secured floating-rate notes at SOFR plus 198 basis points, $50 million of class A senior secured floating-rate loans at SOFR plus 198 bps, $48 million of class B senior secured floating-rate notes at SOFR plus 270 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 315 bps, $20 million of class D senior secured deferrable floating-rate notes at SOFR plus 525 bps, $14 million of class E senior secured deferrable floating-rate notes at SOFR plus 840 bps and $38 million of subordinated notes.
Generate Advisors LLC will manage the collateral through the end of the reinvestment period on July 20, 2028.
Collateral for the CLO consists of speculative-grade senior secured term loans.
The CLO can be called starting July 20, 2025.
Goldman Sachs & Co. LLC was the placement agent.
Generate Advisors LLC is controlled by Kennedy Lewis Investment Management LLC.
| Issuer: | Generate CLO 12 Ltd./Generate CLO 12 LLC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $400 million
|
| Maturity: | July 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Generate Advisors LLC
|
| Call feature: | July 20, 2025
|
| Pricing date: | Aug. 22
|
| Settlement date: | Sept. 7
|
|
|
| Class A notes
|
| Amount: | $206 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 198 bps
|
|
|
| Class A loans
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 198 bps
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 525 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 840 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $38 million
|
| Securities: | Subordinated notes
|
|
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