Chicago, July 8 – Generate Advisors, LLC sold $399.8 million in a collateralized loan obligation being issued by Generate CLO 10 Ltd., according to a new issue report and a press release.
The notes will mature on July 22, 2035.
The CLO consists of $242 million of class A-1 floating-rate notes at SOFR plus 160 basis points, $14 million of class A-2 4.15% fixed-rate notes, $23 million of class B-1 floating-rate notes at SOFR plus 240 bps, $21 million of class B-2 4.84% fixed-rate notes, $25.6 million of class C deferrable floating-rate notes at SOFR plus 306 bps, $18.4 million of class D-1 deferrable floating-rate notes at SOFR plus 435 bps, $7.5 million of class D-2 deferrable floating-rate notes at SOFR plus 585 bps, $13.3 million of class E deferrable floating-rate notes at SOFR plus 807 bps, $1 million of class F deferrable floating-rate notes at SOFR plus 960 bps and $34 million of subordinated notes.
Generate Advisors, LLC will manage the collateral through the end of the reinvestment period in five-years.
Collateral for the notes consists of first-lien senior secured leveraged loans.
BofA Securities, Inc. was the placement agent.
Generate Advisors LLC is controlled by Kennedy Lewis Investment Management LLC.
| Issuer: | Generate CLO 10 Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $399.8 million
|
| Maturity: | July 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Generate Advisors, LLC
|
| Settlement date: | July 6
|
|
|
| Class A-1 notes
|
| Amount: | $242 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 160 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $14 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 4.15%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $23 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $21 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 4.84%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $25.6 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 306 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | $18.4 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 435 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $7.5 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 585 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $13.3 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 807 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $1 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 960 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $34 million
|
| Securities: | Subordinated notes
|
|
|
|
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