Chicago, Jan. 31 – Black Diamond Capital Management LLC sold $406.2 million in a collateralized loan obligation issued by Black Diamond CLO 2021-1, Ltd., according to multiple notices.
The notes will mature on Nov. 22, 2034.
The CLO consists of $179 million of class A-1a senior secured floating-rate notes at Libor plus 125 basis points, $77 million of class A-1b 2.52% senior secured fixed-rate notes, $48 million of class A-2 senior secured floating-rate notes at Libor plus 190 bps, $20 million of class B senior secured deferrable floating-rate notes at Libor plus 265 bps, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 390 bps, $18 million of class D senior secured deferrable floating-rate notes at Libor plus 748 bps and $40.2 million of subordinated notes.
Black Diamond CLO 2021-1 Adviser, LLC will manage the collateral through the end of the five-year reinvestment period.
Most of the portfolio will be first-lien senior secured leveraged loans.
Mizuho Securities USA LLC was the placement agent.
Black Diamond is an alternative asset management firm with locations in Greenwich, Conn., London and St. Thomas.
Issuer: | Black Diamond CLO 2021-1, Ltd.
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $406.2 million
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Maturity: | Nov. 22, 2034
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Structure: | Cash flow CLO
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Placement agent: | Mizuho Securities USA LLC
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Manager: | Black Diamond Capital Management LLC
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Settlement date: | Nov. 22
|
|
Class A-1a notes
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Amount: | $179 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 125 bps
|
Rating: | Moody's: Aaa
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| Fitch: AAA
|
|
Class A-1b notes
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Amount: | $77 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 2.52%
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Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
Class A-2 notes
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Amount: | $48 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 190 bps
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Rating: | Moody's: Aa2
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|
Class B notes
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Amount: | $20 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 265 bps
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Rating: | Moody's: A2
|
|
Class C notes
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Amount: | $24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 390 bps
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Rating: | Moody's: Baa3
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Class D notes
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Amount: | $18 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 748 bps
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Rating: | Moody's: Ba3
|
|
Subordinated notes
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Amount: | $40.2 million
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Securities: | Subordinated notes
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