Chicago, July 29 – Sancus Credit Advisors LP sold its first CLO through co-issuers Trysail CLO 2021-1 Ltd./Trysail CLO 2021-1 LLC for $307.8 million, according to a pre-sale report.
The notes mature July 20, 2032.
The CLO includes $3 million of class X senior secured floating-rate notes at Libor plus 100 basis points, $166.05 million of class A-1 senior secured floating-rate notes at Libor plus 132 bps, $18.45 million of class A-F 2.07% senior secured fixed-rate notes, $43.5 million of class B senior secured floating-rate notes at Libor plus 185 bps, $18 million of class C senior secured deferrable floating-rate notes at Libor plus 240 bps, $18 million of class D senior secured deferrable floating-rate notes at Libor plus 367 bps and $10.5 million of class E senior secured deferrable floating-rate notes at Libor plus 738 bps.
There are also $30.3 million of subordinated notes.
Jefferies LLC was the initial purchaser.
The notes can be called after July 20, 2022.
The reinvestment period ends July 20, 2024. Sancus Credit Advisors is managing the collateral, syndicated speculative grade senior secured term loans.
The collateral manager is a subsidiary of Sancus Capital Management LP. Sancus is an alternative asset manager based in New York.
| Issuers: | Trysail CLO 2021-1 Ltd./Trysail CLO 2021-1 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $307.8 million
|
| Maturity: | July 20, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Sancus Credit Advisors LP
|
| Call feature: | July 20, 2022
|
| Settlement date: | June 24
|
|
|
| Class X notes
|
| Amount: | $3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $166.05 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 132 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-F notes
|
| Amount: | $18.45 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.07%
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $43.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 367 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 738 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $30.3 million
|
| Securities: | Subordinated notes
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
