Chicago, April 19 – New Mountain Credit CLO Advisers LLC sold $354.1 million in a collateralized loan obligation being issued by New Mountain CLO 4 Ltd./New Mountain CLO 4 LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $182 million of class A senior secured floating-rate notes at SOFR plus 195 basis points, $25 million of class A-L-1 senior secured floating-rate loans at SOFR plus 195 bps, $10 million of class A-L-2 senior secured floating-rate loans at SOFR plus 195 bps, $30 million of class B-1 senior secured floating-rate notes at SOFR plus 245 bps, $12.7 million of class B-2 6.23% senior secured fixed-rate notes, $19 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 315 bps, $3.6 million of class C-2 6.9% senior secured deferrable fixed-rate notes, $20.5 million of class D senior secured deferrable floating-rate notes at SOFR plus 550 bps, $10 million of class E senior secured deferrable floating-rate notes at SOFR plus 815 bps and $41.3 million of subordinated notes.
New Mountain Credit CLO Advisers LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 11, 2025.
Citigroup Global Markets Inc. was the placement agent.
New Mountain Credit CLO Advisors is a New York-based investment management firm.
| Issuer: | New Mountain CLO 4 Ltd./New Mountain CLO 4 LLC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $354.1 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | New Mountain Credit CLO Advisers LLC
|
| Call feature: | April 11, 2025
|
| Settlement date: | April 11
|
|
|
| Class A notes
|
| Amount: | $182 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-L-1 loans
|
| Amount: | $25 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-L-2 loans
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| Amount: | $10 million
|
| Securities: | Senior secured floating-rate loans
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| Coupon: | SOFR plus 195 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B-1 notes
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| Amount: | $30 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $12.7 million
|
| Securities: | Senior secured fixed-rate notes
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| Coupon: | 6.23%
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
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| Amount: | $19 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
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| Amount: | $3.6 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 6.9%
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $20.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 550 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
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| Amount: | $10 million
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| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 815 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
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| Amount: | $41.3 million
|
| Securities: | Subordinated notes
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