Chicago, March 2 – Octagon Credit Investors, LLC refinanced for $430.9 million the collateralized loan obligation issued by Octagon Investment Partners 20-R, Ltd., according to press releases.
The notes will mature on May 12, 2031.
The refinanced notes from the CLO consists of $305 million of class A-1-R loans floating-rate notes at Libor plus 115 basis points, $15 million of class A-2-R senior secured floating-rate notes at Libor plus 145 bps, $55.8 million of class B-R senior secured floating-rate notes at Libor plus 170 bps, $23.6 million of class C-R secured deferrable floating-rate notes at Libor plus 220 bps and $31.5 million of class D-R secured deferrable floating-rate notes at Libor plus 325 bps.
An original class of secured notes and three classes of subordinated notes will remain outstanding.
Octagon Credit Investors, LLC will manage the collateral through the end of the 2.4-year reinvestment period on 2.4 years.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Nomura Securities International, Inc. was the placement agent.
The New York-based credit investment firm is a subsidiary of Conning & Co.
| Issuer: | Octagon Investment Partners 20-R, Ltd.
|
| Issue: | Floating-rate notes
|
| Amount: | $430.9 million
|
| Maturity: | May 12, 2031
|
| Structure: | Cash flow CLO
|
| Placement agent: | Nomura Securities International, Inc.
|
| Manager: | Octagon Credit Investors, LLC
|
| Settlement date: | Dec. 29
|
|
|
| Class A-1-R notes
|
| Amount: | $305 million
|
| Securities: | Loans floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2-R notes
|
| Amount: | $15 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 145 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | $55.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C-R notes
|
| Amount: | $23.6 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-R notes
|
| Amount: | $31.5 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | Moody's: Baa3
|
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