Chicago, May 26 – First Eagle Alternative Credit LLC sold $403.39 million in a collateralized loan obligation being issued by Wind River 2022-1 CLO Ltd./Wind River 2022-1 CLO LLC, according to a presale report.
The notes will mature on July 20, 2035.
The CLO consists of $240 million of class A senior secured floating-rate notes at SOFR plus 153 basis points, $59 million of class B-1 senior secured floating-rate notes at SOFR plus 235 bps, $5 million of class B-2 5.03% senior secured fixed-rate notes, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 275 bps, $15 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 355 bps, $9 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 542 bps, $15 million of class E senior secured deferrable floating-rate notes at SOFR plus 812 bps and $36.39 million of subordinated notes.
First Eagle Alternative Credit LLC will manage the collateral through the end of the reinvestment period on July 20, 2027.
Collateral for the notes consists of broadly syndicated senior secured term loans.
The notes can be called starting July 20, 2024.
Citigroup was the placement agent.
Boston-based First Eagle is an alternative credit management firm.
| Issuer: | Wind River 2022-1 CLO Ltd./Wind River 2022-1 CLO LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $403.39 million
|
| Maturity: | July 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup
|
| Manager: | First Eagle Alternative Credit LLC
|
| Call feature: | July 20, 2024
|
| Settlement date: | June 10
|
|
|
| Class A notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 153 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $59 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 235 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.03%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 355 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 542 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 812 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $36.39 million
|
| Securities: | Subordinated notes
|
|
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