Chicago, July 21 – Bain Capital Credit U.S. CLO Manager II, LP sold $487.78 million in a collateralized loan obligation being issued by Bain Capital Credit CLO 2022-6, Ltd./Bain Capital Credit CLO 2022-6, LLC, according to a presale report and a press release.
The notes will mature on October 2035.
The CLO consists of $300 million of class A-1 floating-rate notes at SOFR plus 210 basis points, $25 million of class A-2 floating-rate notes at SOFR plus 270 bps, $51 million of class B floating-rate notes at SOFR plus 308 bps, $27 million of class C floating-rate notes at SOFR plus 425 bps, $30 million of class D floating-rate notes at SOFR plus 578 bps, $17 million of class E floating-rate notes at SOFR plus 875 bps and $37.775 million of subordinated notes.
Bain Capital Credit U.S. CLO Manager II, LP will manage the collateral through the end of the reinvestment period in October 2027.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting September 2024.
Credit Suisse Securities (USA) LLC was the placement agent.
The asset management firm is based in Boston.
| Issuer: | Bain Capital Credit CLO 2022-6, Ltd./Bain Capital Credit CLO 2022-6, LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $487.775 million
|
| Maturity: | October 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Bain Capital Credit U.S. CLO Manager II, LP
|
| Call feature: | September 2024
|
| Settlement date: | Aug. 18
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
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| Amount: | $51 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 308 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $27 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
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| Amount: | $30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 578 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
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| Amount: | $17 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 875 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $37.775 million
|
| Securities: | Subordinated notes
|
|
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