Chicago, Nov. 8 – Rockford Tower Capital Management, LLC refinanced for $392.1 million the collateralized loan obligation issued by Rockford Tower CLO 2022-2, Ltd., according to the revised indenture.
The original CLO closed in July 2022.
The notes will now mature on Oct. 20, 2035.
The refinanced CLO consists of $240 million of class A-1-R senior secured floating-rate notes at SOFR plus 185 basis points, $16 million of class A-2-R senior secured floating-rate notes at SOFR plus 215 bps, $48 million of class B-R senior secured floating-rate notes at SOFR plus 250 bps, $24 million of class C-R mezzanine secured deferrable floating-rate notes at SOFR plus 330 bps, $22 million of class D-R mezzanine secured deferrable floating-rate notes at SOFR plus 515 bps, $14 million of class E-R junior secured deferrable floating-rate notes at SOFR plus 812 bps, $1 million of class F-R junior secured deferrable floating-rate notes at SOFR plus 818 bps and $27.1 million of subordinated notes.
Rockford Tower Capital Management, LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2027.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting Oct. 20, 2025.
BofA Securities, Inc. was the placement agent.
Rockford Tower Capital Management is a Dover, Del., limited liability company.
| Issuer: | Rockford Tower CLO 2022-2, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $392.1 million
|
| Maturity: | Oct. 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Rockford Tower Capital Management, LLC
|
| Call feature: | Oct. 20, 2025
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 20
|
|
|
| Class A-1-R notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2-R notes
|
| Amount: | $16 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 215 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class C-R notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 330 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-R notes
|
| Amount: | $22 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 515 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $14 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 812 bps
|
| Rating: | Fitch: BB+
|
|
|
| Class F-R notes
|
| Amount: | $1 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 818 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $27.1 million
|
| Securities: | Subordinated notes
|
|
|
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