Chicago, Aug. 25 – Owl Rock Capital Private Fund Advisors LLC sold $448.37 million in a collateralized loan obligation being issued by Parliament CLO II Ltd./Parliament CLO II LLC, according to a pre-sale report.
The notes will mature on Aug. 20, 2032.
The CLO consists of $258.75 million of class A senior secured floating-rate notes at Libor plus 135 basis points, $47.25 million of class B senior secured floating-rate notes at Libor plus 170 bps, $31.5 million of class C senior secured deferrable floating-rate notes at Libor plus 255 bps, $24.75 million of class D senior secured deferrable floating-rate notes at Libor plus 370 bps and $86.12 million of subordinated notes.
Owl Rock Capital Private Fund Advisors LLC will manage the collateral through the end of the reinvestment period on Nov. 20, 2022.
The notes can be called starting May 20, 2022.
Deutsche Bank Securities Inc. was the placement agent.
Owl Rock Capital Private Fund Advisors are investment advisors and work as an indirect subsidiary of Owl Rock Capital Partners, a division of Blue Owl Capital Inc.
| Issuer: | Parliament CLO II Ltd./Parliament CLO II LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $448.37 million
|
| Maturity: | Aug. 20, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Owl Rock Capital Private Fund Advisors LLC
|
| Call feature: | May 20, 2022
|
| Settlement date: | Aug. 12
|
|
|
| Class A notes
|
| Amount: | $258.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 135 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $47.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $31.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 255 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Rating: | S&P: BBB
|
|
|
| Subordinated notes
|
| Amount: | $86.12 million
|
| Securities: | Subordinated notes
|
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