Chicago, Jan. 26 – AS Birch Grove CLO Management LP sold $448.49 million in a collateralized loan obligation being issued by Birch Grove CLO 7 Ltd., according to multiple press releases.
The notes will mature on Oct. 20, 2036.
The CLO consists of $285 million of class A-1 senior secured floating-rate notes at SOFR plus 180 basis points, $14 million of class A-2 senior secured floating-rate notes at SOFR plus 230 bps, $50.6 million of class B senior secured floating-rate notes at SOFR plus 285 bps, $27.6 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 325 bps, $25.3 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 550 bps, $16.1 million of class E junior secured deferrable floating-rate notes at SOFR plus 864 bps and $29.89 million of subordinated notes.
AS Birch Grove CLO Management LP will manage the collateral through the end of the reinvestment period on Oct. 20, 2028.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
The notes can be called starting Oct. 20, 2025.
Birch Grove Capital is a New York-based alternative credit manager. The company’s CLO 8 is currently open and ramping with a $500 million target.
| Issuer: | Birch Grove CLO 7 Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $448.485 million
|
| Maturity: | Oct. 20, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | AS Birch Grove CLO Management LP
|
| Call feature: | Oct. 20, 2025
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 17
|
|
|
| Class A-1 notes
|
| Amount: | $285 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $14 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
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| Amount: | $50.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
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| Amount: | $27.6 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
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| Amount: | $25.3 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 550 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
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| Amount: | $16.1 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 864 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $29.885 million
|
| Securities: | Subordinated notes
|
|
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