Chicago, Feb. 2 – Brightwood SPV Advisors LLC sold $156.3 million in a collateralized loan obligation being issued by Brightwood Capital MM CLO 2024-1 Ltd./Brightwood Capital MM CLO 2024-1 LLC, according to a presale report.
The notes will mature on Jan. 15, 2031.
The CLO consists of $58.5 million of class A senior secured floating-rate notes at SOFR plus 230 basis points and $97.8 million of subordinated notes.
Brightwood SPV Advisors LLC will manage the collateral.
There is no reinvestment period. The CLO is static.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Jan. 15, 2025.
BMO Capital Markets Corp. was the placement agent.
Brightwood SPV is an asset management firm owned by New York-based Brightwood Capital Advisors, LLC.
| Issuer: | Brightwood Capital MM CLO 2024-1 Ltd./Brightwood Capital MM CLO 2024-1 LLC
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| Issue: | Floating-rate notes and subordinated notes
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| Amount: | $156.3 million
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| Maturity: | Jan. 15, 2031
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| Structure: | Cash flow CLO
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| Placement agent: | BMO Capital Markets Corp.
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| Manager: | Brightwood SPV Advisors LLC
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| Call feature: | Jan. 15, 2025
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| Pricing date: | Jan. 26
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| Settlement date: | Feb. 2
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|
| Class A notes
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| Amount: | $58.5 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 230 bps
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| Rating: | S&P: 58.5
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|
|
| Subordinated notes
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| Amount: | $97.8 million
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| Securities: | Subordinated notes
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