Chicago, Feb. 25 – Sculptor Loan Management LP sold $308.25 million of new notes in the first issue for the collateral manager in 2021 with Sculptor CLO XXV Ltd./Sculptor CLO XXV LLC listed as issuers, according to a presale report.
The collateralized loan obligation transaction due Jan. 15, 2031 includes $3 million of class X floating-rate notes at Libor plus 75 basis points, $186 million of class A-1 floating-rate notes at Libor plus 127 bps, $42 million of class A-2 floating-rate notes at Libor plus 190 bps, $18 million of class B deferrable floating-rate notes at Libor plus 245 bps, $16.5 million of class C deferrable floating-rate notes at Libor plus 375 bps, $12.75 million of class D deferrable floating-rate notes at Libor plus 519 bps and $30 million of subordinated notes
Sculptor Loan Management LP will manage the portfolio through the reinvestment period end date of Jan. 15, 2024.
The notes can be called after Jan. 15, 2022.
BofA Securities Inc. is the initial purchaser of the notes.
Collateral for the portfolio will primarily be senior secured loans, cash and eligible investments with most borrowers based in the United States or Canada.
The New York-based firm is part of Sculptor Capital Management, Inc.
| Issuers: | Sculptor CLO XXV Ltd./Sculptor CLO XXV LLC
|
| Amount: | $308.25 million
|
| Maturity: | Jan. 15, 2031
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Sculptor Loan Management LP
|
| Call: | Jan. 15, 2022
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 25
|
|
|
| Class X notes
|
| Amount: | $3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
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| Amount: | $186 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 127 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
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| Amount: | $42 million
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| Securities: | Floating-rate notes
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| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class B notes
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| Amount: | $18 million
|
| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 245 bps
|
| Rating: | S&P: A
|
|
|
| Class C notes
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| Amount: | $16.5 million
|
| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 375 bps
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| Rating: | S&P: BBB
|
|
|
| Class D notes
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| Amount: | $12.75 million
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| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 519 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $30 million
|
| Securities: | Subordinated notes
|
|
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