Octagon Credit Investors prepares $820 million Octagon 25 CLO offering

By Cristal Cody

Tupelo, Miss., Sept. 23 – Octagon Credit Investors, LLC plans to price $820 million of notes due Oct. 20, 2026 in a collateralized loan obligation transaction, according to a market source.

The Octagon Investment Partners 25, Ltd./Octagon Investment Partners 25, LLC offering includes $3 million of class X floating-rate notes (/AAA); $496 million of class A floating-rate notes (/AAA); $90 million of class B floating-rate notes (/AA); $78 million of class C deferrable floating-rate notes; $40 million of class D deferrable floating-rate notes; $20 million of class E-1 deferrable floating-rate notes; $12 million of class E-2 deferrable floating-rate notes; $10 million of class F deferrable floating-rate notes and $71 million of subordinated notes.

Morgan Stanley & Co. LLC is the placement agent.

The CLO will have a two-year non-call period and a five-year reinvestment period.

The deal is expected to close on Oct. 29.

Octagon Credit Investors has priced three CLOs year to date.

The New York-based affiliate of CCMP Capital Advisors, LLC brought four CLO transactions in 2014.

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