Chicago, Sept. 15 – CQS (US), LLC sold $397.6 million in a collateralized loan obligation being issued by CQS US CLO 2022-2, Ltd., according to a new issue report.
The notes will mature on July 20, 2031.
The CLO consists of $256 million of class A-1 floating-rate notes at SOFR plus 265 basis points, $16 million of class A-2 floating-rate notes at SOFR plus 300 bps, $30.6 million of class B-1 floating-rate notes at SOFR plus 340 bps, $7.4 million of class B-F fixed-rate notes, $25 million of class C floating-rate notes at SOFR plus 425 bps, $21 million of class D floating-rate notes at SOFR plus 528 bps, $12 million of class E-1 floating-rate notes at SOFR plus 685 bps, $4 million of class E-2 floating-rate notes at SOFR plus 880 bps and $25.6 million of subordinated notes.
CQS (US), LLC will manage the CLO. There is no reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The CLO manager is a subsidiary of CQS, a London-based asset manager.
| Issuer: | CQS US CLO 2022-2, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $397.6 million
|
| Maturity: | July 20, 2031
|
| Structure: | Cash flow CLO
|
| Manager: | CQS (US), LLC
|
| Settlement date: | Sept. 15
|
|
|
| Class A-1 notes
|
| Amount: | $256 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $16 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $30.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class B-F notes
|
| Amount: | $7.4 million
|
| Securities: | Fixed-rate notes
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | $25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $21 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 528 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E-1 notes
|
| Amount: | $12 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 685 bps
|
| Rating: | Fitch: BB+
|
|
|
| Class E-2 notes
|
| Amount: | $4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 880 bps
|
| Rating: | Fitch: B+
|
|
|
| Subordinated notes
|
| Amount: | $25.6 million
|
| Securities: | Subordinated notes
|
|
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