Chicago, April 14 – ORIX Advisers LLC priced its first collateralized loan obligation of 2021 with Signal Peak CLO 1 Ltd./Signal Peak CLO 1 LLC listed as co-issuers, according to a pre-sale report.
The maturity date for the portfolio is April 17, 2034.
The CLO has $5.34 million of class A senior secured floating-rate notes at Libor plus 116 basis points, $286.65 million of class A-R3 senior secured floating-rate notes at Libor plus 180 bps, $59.14 million of class B-R3 senior secured floating-rate notes at Libor plus 225 bps, $22.75 million of class C-R3 senior secured deferrable floating-rate notes at Libor plus 340 bps, $27.32 million of class D-R3 senior secured deferrable floating-rate notes at Libor plus 640 bps, $20.475 million of class E-R3 senior secured deferrable floating-rate notes at Libor plus 780 bps and $5.97 million of class F-R3 3.77% senior secured deferrable fixed-rate notes.
J.P. Morgan Securities LLC is the arranger.
ORIX Advisers will manage the collateral through April 17, 2026, the end of the reinvestment period.
The notes have two years of call protection.
ORIX is an investment adviser based out of New York.
| Issuer: | Signal Peak CLO 1 Ltd./Signal Peak CLO 1 LLC
|
| Issue: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | $472,145,000
|
| Maturity: | April 17, 2034
|
| Agent: | J.P. Morgan Securities LLC
|
| Manager: | ORIX Advisers LLC
|
| Call: | April 17, 2023
|
| Announcement date: | April 13
|
| Settlement date: | April 19
|
|
|
| Class A notes
|
| Amount: | $5.34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 116 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-R3 notes
|
| Amount: | $286.65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R3 notes
|
| Amount: | $59.14 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R3 notes
|
| Amount: | $22.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R3 notes
|
| Amount: | $27.32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 640 bps
|
| Rating: | S&P: BBB
|
|
|
| Class E-R3 notes
|
| Amount: | $20.475 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 780 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F-R3 notes
|
| Amount: | $5.97 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 3.77%
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $44.5 million
|
| Securities: | Subordinated notes
|
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