Chicago, March 15 – Elmwood Asset Management LLC sold $527 million of notes in a collateralized loan obligation being issued by Logan CLO II, Ltd., according to a press release.
The notes will mature on Jan. 22, 2035.
The CLO consists of $320 million of class A floating-rate notes at SOFR plus basis points, $60 million of class B floating-rate notes at SOFR plus bps, $25 million of class C floating-rate notes at SOFR plus bps, $60 million of class D 2.25% deferrable fixed-rate notes, $20 million of class E 5% deferrable fixed-rate notes and $42 million of variable dividend notes.
Elmwood Asset Management LLC will manage the collateral through the end of the five-year reinvestment period on five-year.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
RBC Capital Markets, LLC was the placement agent.
The hedge fund is based in New York.
Issuer: | Logan CLO II, Ltd.
|
Issue: | Floating-rate notes, fixed-rate notes and variable dividend notes
|
Amount: | $527 million
|
Maturity: | Jan. 22, 2035
|
Structure: | Cash flow CLO
|
Placement agent: | RBC Capital Markets, LLC
|
Manager: | Elmwood Asset Management LLC
|
Settlement date: | Dec. 17, 2021
|
|
Class A notes
|
Amount: | $320 million
|
Securities: | Floating-rate notes
|
Rating: | Moody's: Aaa
|
|
Class B notes
|
Amount: | $60 million
|
Securities: | Floating-rate notes
|
Rating: | Moody's: Aa2
|
|
Class C notes
|
Amount: | $25 million
|
Securities: | Floating-rate notes
|
Rating: | Moody's: A2
|
|
Class D notes
|
Amount: | $60 million
|
Securities: | Deferrable fixed-rate notes
|
Coupon: | 2.25%
|
Rating: | Moody's:
|
|
Class E notes
|
Amount: | $20 million
|
Securities: | Deferrable fixed-rate notes
|
Coupon: | 5%
|
Rating: | Moody's:
|
|
Variable dividend notes
|
Amount: | $42 million
|
Securities: | Variable dividend notes
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.