Chicago, Aug. 2 – ArrowMark Colorado Holdings LLC sold $419.2 million in a collateralized loan obligation being issued by Elevation CLO 2021-13 Ltd./Elevation CLO 2021-13 LLC, according to a pre-sale report.
The notes will mature on July 15, 2034.
The CLO consists of $3 million of class X senior secured floating-rate notes at Libor plus 100 basis points, $250.1 million of class A-1 senior secured floating-rate notes at Libor plus 119 bps, $12.3 million of class A-2 senior secured floating-rate notes at Libor plus 143 bps, $49.2 million of class B senior secured floating-rate notes at Libor plus 180 bps, $19.6 million of class C-1 senior secured deferrable floating-rate notes at Libor plus 235 bps, $5 million of class C-2 3.606% senior secured deferrable fixed-rate notes, $18.45 million of class D-1 senior secured deferrable floating-rate notes at Libor plus 315 bps, $6.15 million of class D-2 senior secured deferrable floating-rate notes at Libor plus 440 bps, $14.35 million of class E senior secured deferrable floating-rate notes at Libor plus 725 bps, and $41.05 million of subordinated notes..
ArrowMark Colorado Holdings LLC will manage the collateral through the end of the reinvestment period on July 15, 2026.
The notes can be called starting June 28.
Goldman Sachs & Co. LLC was the placement agent.
The investment management firm is based in Denver.
| Issuer: | Elevation CLO 2021-13 Ltd./Elevation CLO 2021-13 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $419.2 million
|
| Maturity: | July 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | ArrowMark Colorado Holdings LLC
|
| Call feature: | June 28
|
| Settlement date: | June 28
|
|
|
| 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: | $250.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 119 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 143 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $49.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $19.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 235 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2 notes
|
| Amount: | $5 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 3.606%
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $18.45 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | S&P: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $6.15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 440 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $14.35 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 725 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $41.05 million
|
| Securities: | Subordinated notes
|
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