Chicago, Feb. 20 – Oaktree CLO Management Co. LLC priced $405 million of notes in a collateralized loan obligation being issued by Oaktree CLO 2024-25 Ltd./Oaktree CLO 2024-25 LLC, according to a presale report.
The notes will mature on April 20, 2037.
The CLO consists of $2 million of class X senior secured floating-rate notes at SOFR plus 95 basis points, $248 million of class A senior secured floating-rate notes at SOFR plus 155 bps, $12 million of class A-J senior secured floating-rate notes at SOFR plus 175 bps, $44 million of class B senior secured floating-rate notes at SOFR plus 205 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 250 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 365 bps, $16 million of class E senior secured deferrable floating-rate notes at SOFR plus 659 bps and $35 million of subordinated notes.
Oaktree CLO Management Co. LLC will manage the collateral through the end of the reinvestment period on April 20, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2026.
Morgan Stanley & Co. LLC was the placement agent.
The Los Angeles-based asset management firm is a subsidiary of Oaktree Capital Group, LLC.
| Issuer: | Oaktree CLO 2024-25 Ltd./Oaktree CLO 2024-25 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $405 million
|
| Maturity: | April 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Oaktree CLO Management Co. LLC
|
| Call feature: | April 20, 2026
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 28
|
|
|
| Class X notes
|
| Amount: | $2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 95 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 155 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-J notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 365 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 659 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $35 million
|
| Securities: | Subordinated notes
|
|
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