Chicago, Jan. 11 – Brigade Capital Management, LP sold $299.5 million in a collateralized loan obligation issued by Battalion CLO XXIV Ltd., according to a presale report.
The notes will mature on Jan. 14, 2034.
The CLO consists of $192 million of class A floating-rate notes at SOFR plus 265 basis points, $36 million of class B floating-rate notes at SOFR plus 340 bps, $13.5 million of class C floating-rate notes at SOFR plus 430 bps, $19.5 million of class D floating-rate notes at SOFR plus 550 bps, $10.5 million of class E floating-rate notes at SOFR plus 823 bps and $28 million of subordinated notes.
Brigade Capital Management, LP will manage the collateral through the end of the 3.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Brigade Capital is an investment advisor firm based in New York.
| Issuer: | Battalion CLO XXIV Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $299.5 million
|
| Maturity: | Jan. 14, 2034
|
| Structure: | Cash flow CLO
|
| Manager: | Brigade Capital Management, LP
|
| Settlement date: | Dec. 15
|
|
|
| Class A notes
|
| Amount: | $192 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $36 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $13.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 430 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $19.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 550 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 823 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $28 million
|
| Securities: | Subordinated notes
|
|
|
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