Chicago, March 1 – Apex Credit Partners LLC priced $322.73 million of notes in a collateralized loan obligation being issued by Apex Credit CLO 2024-I Ltd./Apex Credit CLO 2024-I LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $195 million of class A-1 senior secured floating-rate notes at SOFR plus 180 basis points, $13 million of class A-J senior secured floating-rate notes at SOFR plus 200 bps, $24.74 million of class B-1 senior secured floating-rate notes at SOFR plus 240 bps, $14.26 million of class B-F 6.22% senior secured fixed-rate notes, $14.24 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 295 bps, $5.26 million of class C-F 6.77% senior secured deferrable fixed-rate notes, $16.25 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 454 bps, $4.88 million of class D-J 9.38% senior secured deferrable fixed-rate notes, $7.64 million of class E-1 senior secured deferrable floating-rate notes at SOFR plus 793 bps, $2.11 million of class E-F 11.75% senior secured deferrable fixed-rate notes and $25.35 million of subordinated notes.
Apex Credit Partners LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2026.
Jefferies LLC was the placement agent.
The manager is a New York City-based commercial finance firm.
Issuer: | Apex Credit CLO 2024-I Ltd./Apex Credit CLO 2024-I LLC
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $322.73 million
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Maturity: | April 20, 2036
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Structure: | Cash flow CLO
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Placement agent: | Jefferies LLC
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Manager: | Apex Credit Partners LLC
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Call feature: | April 20, 2026
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Pricing date: | Feb. 23
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Settlement date: | March 7
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Class A-1 notes
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Amount: | $195 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 180 bps
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Rating: | S&P: AAA
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Class A-J notes
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Amount: | $13 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 200 bps
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Rating: | S&P: AAA
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Class B-1 notes
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Amount: | $24.74 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 240 bps
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Rating: | S&P: AA
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Class B-F notes
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Amount: | $14.26 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 6.22%
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Rating: | S&P: AA
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Class C-1 notes
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Amount: | $14.24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 295 bps
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Rating: | S&P: A
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Class C-F notes
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Amount: | $5.26 million
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Securities: | Senior secured deferrable fixed-rate notes
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Coupon: | 6.77%
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Rating: | S&P: A
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Class D-1 notes
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Amount: | $16.25 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 454 bps
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Rating: | S&P: BBB
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Class D-J notes
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Amount: | $4.88 million
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Securities: | Senior secured deferrable fixed-rate notes
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Coupon: | 9.38%
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Rating: | S&P: BBB-
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Class E-1 notes
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Amount: | $7.64 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 793 bps
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Rating: | S&P: BB-
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Class E-F notes
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Amount: | $2.11 million
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Securities: | Senior secured deferrable fixed-rate notes
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Coupon: | 11.75%
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $25.35 million
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Securities: | Subordinated notes
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