Chicago, Dec. 5 – Blue Owl Technology Credit Advisors II LLC priced $475.3 million of notes and loans in a collateralized loan obligation being issued by Athena CLO II LLC, according to a presale report.
The CLO will mature on Jan. 20, 2036.
The transaction consists of $40 million of class A floating-rate notes at SOFR plus 285 basis points, $200 million of class A-L floating-rate loans at SOFR plus 285 bps, $16.5 million of class B-1 floating-rate notes at SOFR plus 395 bps, $7.5 million of class B-2 7.25% fixed-rate notes, $24 million of class C floating-rate notes at SOFR plus 495 bps and $187.3 million of subordinated notes.
Blue Owl Technology Credit Advisors II LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Dec. 13, 2025.
SG Americas Securities LLC is the placement agent.
The alternative asset manager is based in New York.
| Issuer: | Athena CLO II LLC
|
| Issue: | Floating-rate notes, fixed-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $475.3 million
|
| Maturity: | Jan. 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | SG Americas Securities LLC
|
| Manager: | Blue Owl Technology Credit Advisors II LLC
|
| Call feature: | Dec. 13, 2025
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 13
|
|
|
| Class A notes
|
| Amount: | $40 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L loans
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| Amount: | $200 million
|
| Securities: | Floating-rate loans
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
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| Amount: | $16.5 million
|
| Securities: | Floating-rate notes
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| Coupon: | SOFR plus 395 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $7.5 million
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| Securities: | Fixed-rate notes
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| Coupon: | 7.25%
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| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $24 million
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| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 495 bps
|
| Rating: | S&P: A
|
|
|
| Subordinated notes
|
| Amount: | $187.3 million
|
| Securities: | Subordinated notes
|
|
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