Chicago, Dec. 12 – Ares CLO Management LLC sold $387.4 million in a collateralized loan obligation being issued by Ares LXVII CLO Ltd., according to a presale report.
The notes will mature on January 2036.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 220 basis points, $19.4 million of class A-2 senior secured floating-rate notes at SOFR plus 265 bps, $25.2 million of class B-1 senior secured floating-rate notes at SOFR plus 310 bps, $10 million of class B-2 6.88% senior secured fixed-rate notes, $24.6 million of class C senior secured floating-rate notes at SOFR plus 400 bps, $24.6 million of class D senior secured deferrable floating-rate notes at SOFR plus 541 bps, $13 million of class E senior secured deferrable floating-rate notes at SOFR plus 878 bps and $30.6 million of subordinated notes.
Ares CLO Management LLC will manage the collateral through the end of the reinvestment period in January 2028.
Collateral for the notes consists of non-investment grade broadly syndicated loans and other assets.
The notes can be called starting January 2025.
Nomura Securities International, Inc. was the placement agent.
The alternative asset management firm is based in Los Angeles and is a subsidiary of Ares Management LP.
| Issuer: | Ares LXVII CLO Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $387.4 million
|
| Maturity: | January 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Nomura Securities International, Inc.
|
| Manager: | Ares CLO Management LLC
|
| Call feature: | January 2025
|
| Settlement date: | Dec. 12
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $19.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class B-1 notes
|
| Amount: | $25.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.88%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $24.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $24.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 541 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 878 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $30.6 million
|
| Securities: | Subordinated notes
|
|
|
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