Chicago, Feb. 27 – New Mountain Credit CLO Advisers LLC sold $407 million in a collateralized loan obligation being issued by New Mountain CLO 5 Ltd./New Mountain CLO 5 LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $256 million of class A senior secured floating-rate notes at SOFR plus 157 basis points, $46 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, $26 million of class D senior secured deferrable floating-rate notes at SOFR plus 390 bps, $14 million of class E senior secured deferrable floating-rate notes at SOFR plus 685 bps and $41 million of subordinated notes.
New Mountain Credit CLO Advisers LLC will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2025.
Goldman Sachs & Co. LLC was the placement agent.
New Mountain Credit CLO Advisors is a New York-based investment management firm.
| Issuer: | New Mountain CLO 5 Ltd./New Mountain CLO 5 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $407 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | New Mountain Credit CLO Advisers LLC
|
| Call feature: | April 20, 2025
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 15
|
|
|
| Class A notes
|
| Amount: | $256 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 157 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $46 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: | $26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 685 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $41 million
|
| Securities: | Subordinated notes
|
|
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