Chicago, Jan. 31 – Black Diamond Capital Management LLC sold $406.2 million in a collateralized loan obligation issued by Black Diamond CLO 2021-1, Ltd., according to multiple notices.
The notes will mature on Nov. 22, 2034.
The CLO consists of $179 million of class A-1a senior secured floating-rate notes at Libor plus 125 basis points, $77 million of class A-1b 2.52% senior secured fixed-rate notes, $48 million of class A-2 senior secured floating-rate notes at Libor plus 190 bps, $20 million of class B senior secured deferrable floating-rate notes at Libor plus 265 bps, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 390 bps, $18 million of class D senior secured deferrable floating-rate notes at Libor plus 748 bps and $40.2 million of subordinated notes.
Black Diamond CLO 2021-1 Adviser, LLC will manage the collateral through the end of the five-year reinvestment period.
Most of the portfolio will be first-lien senior secured leveraged loans.
Mizuho Securities USA LLC was the placement agent.
Black Diamond is an alternative asset management firm with locations in Greenwich, Conn., London and St. Thomas.
| Issuer: | Black Diamond CLO 2021-1, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $406.2 million
|
| Maturity: | Nov. 22, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Mizuho Securities USA LLC
|
| Manager: | Black Diamond Capital Management LLC
|
| Settlement date: | Nov. 22
|
|
|
| Class A-1a notes
|
| Amount: | $179 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-1b notes
|
| Amount: | $77 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.52%
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B notes
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| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 265 bps
|
| Rating: | Moody's: A2
|
|
|
| Class C notes
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| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 390 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class D notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 748 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $40.2 million
|
| Securities: | Subordinated notes
|
|
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