Chicago, March 26 – BMO Asset Management Corp. sold $404.865 million in a collateralized loan obligation being issued by Great Lakes CLO VII Ltd./Great Lakes CLO VII LLC, according to a presale report.
The notes will mature on April 20, 2037.
The CLO consists of $4 million of class X senior secured floating-rate notes at SOFR plus 135 basis points, $232 million of class A senior secured floating-rate notes at SOFR plus 200 bps, $40 million of class B senior secured floating-rate notes at SOFR plus 245 bps, $32 million of class C senior secured deferrable floating-rate notes at SOFR plus 350 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 565 bps, $24 million of class E senior secured deferrable floating-rate notes at SOFR plus 810 bps and $48,865,000 of subordinated notes.
BMO Asset Management Corp. will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting April 4, 2026.
Citigroup Global Markets Inc. and BMO Capital Markets Corp. were the placement agents.
BMO Asset Management is a Chicago-based investment manager and part of BMO Financial Group.
| Issuer: | Great Lakes CLO VII Ltd./Great Lakes CLO VII LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $404,865,000
|
| Maturity: | April 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agents: | Citigroup Global Markets Inc. and BMO Capital Markets Corp.
|
| Manager: | BMO Asset Management Corp.
|
| Call feature: | April 4, 2026
|
| Pricing date: | March 19
|
| Settlement date: | April 4
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 135 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $232 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $40 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 565 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 810 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $48,865,000
|
| Securities: | Subordinated notes
|
|
|
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