Chicago, Jan. 12 – BMO Asset Management Corp. sold $387.9 million in a collateralized loan obligation being issued by Great Lakes CLO VI LLC, according to a pre-sale report.
The notes will mature on Jan. 15, 2034.
The CLO consists of $4.9 million of class A-X senior secured floating-rate notes at Libor plus 120 basis points, $219 million of class A senior secured floating-rate notes at Libor plus 157 bps, $35 million of class B senior secured floating-rate notes at Libor plus 200 bps, $30 million of class C senior secured deferrable floating-rate notes at Libor plus 285 bps, $27.5 million of class D senior secured deferrable floating-rate notes at Libor plus 400 bps, $26.5 million of class E senior secured deferrable floating-rate notes at Libor plus 803 bps and $45 million of subordinated notes.
BMO Asset Management Corp. will manage the collateral through the end of the reinvestment period on Jan. 15, 2026.
Collateral is mostly middle-market speculative-grade senior secured term loans.
The notes can be called starting Jan. 15, 2024.
BMO Capital Markets Corp. was the placement agent.
BMO Asset Management is a Chicago-based investment manager and part of BMO Financial Group.
| Issuer: | Great Lakes CLO VI LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $387.9 million
|
| Maturity: | Jan. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BMO Capital Markets Corp.
|
| Manager: | BMO Asset Management Corp.
|
| Call feature: | Jan. 15, 2024
|
| Settlement date: | Dec. 6
|
|
|
| Class A-X notes
|
| Amount: | $4.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $219 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 157 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $35 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 285 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $27.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 400 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $26.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 803 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $45 million
|
| Securities: | Subordinated notes
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
