Chicago, May 6 – BlackRock Capital Investment Advisors LLC refinanced for $406.6 million the collateralized loan obligation being issued by Blackrock Elbert CLO V LLC, according to a presale report.
The extended notes will mature on June 15, 2034.
The CLO consists of $4 million of class X senior secured floating-rate notes at SOFR plus 125 basis points, $130 million of class A-1-R senior secured floating-rate notes at SOFR plus 185 bps, $40 million of class A-RL senior secured floating-rate loans at SOFR plus 185 bps, $60 million of class A-F-R 4.48% senior secured fixed-rate notes, $42 million of class B-R senior secured floating-rate notes at SOFR plus 225 bps, $32 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 315 bps, $24 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 445 bps, $24 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 870 bps and $50.6 million of subordinated notes.
BlackRock Capital Investment Advisors LLC will manage the collateral through the end of the reinvestment period on June 15, 2026.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting June 15, 2024.
Natixis Securities Americas LLC was the placement agent.
BlackRock Capital is a wholly owned subsidiary of BlackRock, Inc.
| Issuer: | Blackrock Elbert CLO V LLC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $406.6 million
|
| Maturity: | June 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | BlackRock Capital Investment Advisors LLC
|
| Call feature: | June 15, 2024
|
| Settlement date: | May 12
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 125 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1-R notes
|
| Amount: | $130 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-RL loans
|
| Amount: | $40 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-F-R notes
|
| Amount: | $60 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.48%
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $42 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 445 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 870 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $50.6 million
|
| Securities: | Subordinated notes
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
