Chicago, Nov. 21 – Generate Advisors, LLC issued $404 million of notes and loans in a collateralized loan obligation from co-issuers Generate CLO 13 Ltd./Generate CLO 13 LLC, according to a presale report.
The CLO will mature on Jan. 20, 2037.
The transaction consists of $194.5 million of class A-1 senior secured floating-rate notes at SOFR plus 180 basis points, $50 million of class A-1L senior secured floating-rate loans at SOFR plus 180 bps, $11.5 million of class A-2 6.43% senior secured fixed-rate notes, $37 million of class B-1 senior secured floating-rate notes at SOFR plus 265 bps, $11 million of class B-2 7.27% senior secured fixed-rate notes, $11 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 300 bps, $13 million of class C-2 7.62% senior secured deferrable fixed-rate notes, $17.5 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 500 bps, $4.5 million of class D-2 9.62% senior secured deferrable fixed-rate notes, $12 million of class E senior secured deferrable floating-rate notes at SOFR plus 804 bps and $42 million of subordinated notes.
Generate Advisors will manage the collateral through the end of the reinvestment period on Jan. 20, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 20, 2026.
Deutsche Bank Securities Inc. was the placement agent.
Generate Advisors LLC is a subsidiary of Kennedy Lewis Investment Management LLC.
| Issuer: | Generate CLO 13 Ltd./Generate CLO 13 LLC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $404 million
|
| Maturity: | Jan. 20, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Generate Advisors, LLC
|
| Call feature: | Jan. 20, 2026
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 21
|
|
|
| Class A-1 notes
|
| Amount: | $194.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
|
|
| Class A-1L loans
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 180 bps
|
|
|
| Class A-2 notes
|
| Amount: | $11.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.43%
|
|
|
| Class B-1 notes
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| Amount: | $37 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $11 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7.27%
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $11 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
|
| Amount: | $13 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 7.62%
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $17.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 500 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D-2 notes
|
| Amount: | $4.5 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 9.62%
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 804 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $42 million
|
| Securities: | Subordinated notes
|
|
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