Chicago, Nov. 9 – Partners Group US Management CLO LLC priced $457.5 million of notes and loans in a collateralized loan obligation being issued by Pikes Peak CLO 15 (2023) Ltd., according to a presale report and a press release.
The CLO will mature on Oct. 20, 2036.
The transaction consists of $248 million of class A senior secured floating-rate notes at SOFR plus 175 basis points, $40 million of class A-L senior secured floating-rate loans at SOFR plus 175 bps, $54 million of class B senior secured floating-rate notes at SOFR plus 247.5 bps, $27 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 290 bps, $24.75 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 445 bps, $15.75 million of class E junior secured deferrable floating-rate notes at SOFR plus 714 bps and $48 million of subordinated notes.
Partners Group US Management CLO LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2028.
Collateral for the notes consists of non-investment-grade broadly syndicated loans and other assets.
The notes can be called starting Oct. 20, 2025.
BofA Securities, Inc. was the placement agent.
The global private markets investment management firm has U.S. offices in Denver, New York and Houston.
| Issuer: | Pikes Peak CLO 15 (2023) Ltd.
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $457.5 million
|
| Maturity: | Oct. 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Partners Group US Management CLO LLC
|
| Call feature: | Oct. 20, 2025
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 16
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-L loans
|
| Amount: | $40 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
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| Amount: | $54 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 247.5 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
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| Amount: | $27 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
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| Amount: | $24.75 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 445 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
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| Amount: | $15.75 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 714 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $48 million
|
| Securities: | Subordinated notes
|
|
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