Chicago, June 15 – Sculptor Loan Advisors LLC sold $300.7 million in a collateralized loan obligation being issued by Sculptor CLO XXXI Ltd./Sculptor CLO XXXI LLC, according to a presale report.
The notes will mature on July 20, 2035.
The CLO consists of $189 million of class A senior secured floating-rate notes at SOFR plus 227 basis points, $29 million of class B-1 senior secured floating-rate notes at SOFR plus 280 bps, $10 million of class B-2 6.33% senior secured fixed-rate notes, $6.5 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 375 bps, $10 million of class C-2 7% senior secured deferrable fixed-rate notes, $0 million of class D senior secured deferrable floating-rate notes at SOFR plus 611 bps, $17.7 million of class D senior secured deferrable floating-rate loans at SOFR plus 611 bps, $0 million of class E senior secured deferrable floating-rate notes at SOFR plus 942 bps, $7.8 million of class E senior secured deferrable floating-rate loans at SOFR plus 942 bps and $30.7 million of subordinated notes.
Sculptor Loan Advisor LLC will manage the collateral through the end of the reinvestment period on July 20, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting July 20, 2024.
BofA Securities Inc. was the placement agent.
The New York-based firm is part of Sculptor Capital Management, Inc.
| Issuer: | Sculptor CLO XXXI Ltd./Sculptor CLO XXXI LLC
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| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
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| Amount: | $300.7 million
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| Maturity: | July 20, 2035
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| Structure: | Cash flow CLO
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| Placement agent: | BofA Securities Inc.
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| Manager: | Sculptor Loan Advisors LLC
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| Call feature: | July 20, 2024
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| Settlement date: | July 6
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| Class A notes
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| Amount: | $189 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 227 bps
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| Rating: | S&P: AAA
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| Class B-1 notes
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| Amount: | $29 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 280 bps
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| Rating: | S&P: AA
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| Class B-2 notes
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| Amount: | $10 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 6.33%
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| Rating: | S&P: AA
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| Class C-1 notes
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| Amount: | $6.5 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 375 bps
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| Rating: | S&P: A
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| Class C-2 notes
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| Amount: | $10 million
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| Securities: | Senior secured deferrable fixed-rate notes
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| Coupon: | 7%
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| Rating: | S&P: A
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|
| Class D notes
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| Amount: | $0 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 611 bps
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| Rating: | S&P: BBB-
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| Class D loans
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| Amount: | $17.7 million
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| Securities: | Senior secured deferrable floating-rate loans
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| Coupon: | SOFR plus 611 bps
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| Rating: | S&P: BBB-
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| Class E notes
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| Amount: | $0 million
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| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | SOFR plus 942 bps
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| Rating: | S&P: BB-
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| Class E loans
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| Amount: | $7.8 million
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| Securities: | Senior secured deferrable floating-rate loans
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| Coupon: | SOFR plus 942 bps
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| Rating: | S&P: BB-
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| Subordinated notes
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| Amount: | $30.7 million
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| Securities: | Subordinated notes
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