Chicago, Feb. 13 – Blue Owl Credit Income Senior Loan Fund LLC priced $408.7 million of notes in a collateralized loan obligation being issued by Wise CLO 2024-1 Ltd./Wise CLO 2024-1 LLC, according to a presale report.
The notes will mature on April 15, 2037.
The CLO consists of $240 million of class A senior secured floating-rate notes at SOFR plus 165 basis points, $55 million of class B-1 senior secured floating-rate notes at SOFR plus 230 bps, $5 million of class B-2 6.14% senior secured fixed-rate notes, $20 million of class C senior secured deferrable floating-rate notes at SOFR plus 280 bps and $88.7 million of subordinated notes.
Blue Owl Credit Income Senior Loan Fund LLC will manage the collateral through the end of the reinvestment period on April 15, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting March 27, 2026.
BofA Securities Inc. was the placement agent.
Blue Owl is based in New York. The CLO is a joint venture between Blue Owl Credit Income Corp. and the State Teachers Retirement System of Ohio.
| Issuer: | Wise CLO 2024-1 Ltd./Wise CLO 2024-1 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $408.7 million
|
| Maturity: | April 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Blue Owl Credit Income Senior Loan Fund LLC
|
| Call feature: | March 27, 2026
|
| Pricing date: | Feb. 12
|
| Settlement date: | March 7
|
|
|
| Class A notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 165 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
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| Amount: | $5 million
|
| Securities: | Senior secured fixed-rate notes
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| Coupon: | 6.14%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
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| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 280 bps
|
| Rating: | S&P: A
|
|
|
| Subordinated notes
|
| Amount: | $88.7 million
|
| Securities: | Subordinated notes
|
|
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