Chicago, April 8 – Elmwood Asset Management LLC sold $512.25 million in a collateralized loan obligation being issued by Elmwood CLO 27 Ltd./Elmwood CLO 27 LLC, according to a presale report.
The notes will mature on April 18, 2037.
The CLO consists of $320 million of class A senior secured floating-rate notes at SOFR plus 152 basis points, $60 million of class B senior secured floating-rate notes at SOFR plus 195 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 245 bps, $30 million of class D senior secured deferrable floating-rate notes at SOFR plus 345 bps, $20 million of class E senior secured deferrable floating-rate notes at SOFR plus 625 bps and $52.25 million of subordinated notes.
Elmwood Asset Management LLC will manage the collateral through the end of the reinvestment period on April 18, 2029.
Collateral consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 18, 2026.
Nomura Securities International Inc. was the placement agent.
The hedge fund is based in New York.
| Issuer: | Elmwood CLO 27 Ltd./Elmwood CLO 27 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $512.25 million
|
| Maturity: | April 18, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Nomura Securities International Inc.
|
| Manager: | Elmwood Asset Management LLC
|
| Call feature: | April 18, 2026
|
| Pricing date: | April 4
|
| Settlement date: | May 7
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 152 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 345 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 625 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $52.25 million
|
| Securities: | Subordinated notes
|
|
|
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