Chicago, April 25 – Bain Capital Credit U.S. CLO Manager II, LP sold $606.2 million in a collateralized loan obligation issued by Bain Capital Credit CLO 2022-2, Ltd., according to multiple press releases.
The notes will mature on April 22, 2035.
The CLO consists of $378 million of class A-1 senior secured floating-rate notes at SOFR plus 132 basis points, $4 million of class A-2A senior secured floating-rate notes at SOFR plus 160 bps, $8 million of class A-2B 3.37% senior secured fixed-rate notes, $66 million of class B senior secured floating-rate notes at SOFR plus 195 bps, $36 million of class C secured deferrable floating-rate notes at SOFR plus 250 bps, $30 million of class D-1 secured deferrable floating-rate notes at SOFR plus 365 bps, $9 million of class D-2 secured deferrable floating-rate notes at SOFR plus 535 bps, $21 million of class E secured deferrable floating-rate notes at SOFR plus 784 bps and $54.2 million of subordinated notes.
Bain Capital Credit U.S. CLO Manager II, LP will manage the collateral through the end of the five-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
BofA Securities, Inc. was the placement agent.
The asset management firm is based in Boston.
| Issuer: | Bain Capital Credit CLO 2022-2, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $606.2 million
|
| Maturity: | April 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Bain Capital Credit U.S. CLO Manager II, LP
|
| Settlement date: | April 22
|
|
|
| Class A-1 notes
|
| Amount: | $378 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 132 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2A notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 160 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2B notes
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| Amount: | $8 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.37%
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $66 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
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| Amount: | $36 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: A
|
|
|
| Class D-1 notes
|
| Amount: | $30 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 365 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class D-2 notes
|
| Amount: | $9 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 535 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $21 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 784 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $54.2 million
|
| Securities: | Subordinated notes
|
|
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