Chicago, Jan. 13 – Centerbridge Credit Funding Advisors, LLC sold $402.5 million in a collateralized loan obligation being issued by Park Blue CLO 2022-II, Ltd., according to multiple press releases.
The notes will mature on Jan. 20, 2035.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 255 basis points, $24 million of class A-2 senior secured floating-rate notes at SOFR plus 290 bps, $33 million of class B-1 senior secured floating-rate notes at SOFR plus 325 bps, $7 million of class B-2 6.47% senior secured fixed-rate notes, $18 million of class C deferrable mezzanine floating-rate notes at SOFR plus 410 bps, $20 million of class D deferrable mezzanine floating-rate notes at SOFR plus 560 bps, $16 million of class E deferrable mezzanine floating-rate notes at SOFR plus 713 bps, $1 million of class F deferrable mezzanine floating-rate notes at SOFR plus 700 bps and $43.5 million of subordinated notes.
Centerbridge Credit Funding Advisors, LLC will manage the collateral through the end of the three-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Centerbridge is a New York-based investment management firm.
| Issuer: | Park Blue CLO 2022-II, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $402.5 million
|
| Maturity: | Jan. 20, 2035
|
| Structure: | Cash flow CLO
|
| Manager: | Centerbridge Credit Funding Advisors, LLC
|
| Settlement date: | Jan. 12
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 255 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $24 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $33 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | $7 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.47%
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $18 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 410 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $20 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 560 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 713 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | $1 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 700 bps
|
| Rating: | Moody’s: B3
|
|
|
| Subordinated notes
|
| Amount: | $43.5 million
|
| Securities: | Subordinated notes
|
|
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