Chicago, Jan. 11 – Sculptor Loan Management LP sold $407.65 million in a collateralized loan obligation being issued by Sculptor CLO XXVIII Ltd./Sculptor CLO XXVIII LLC, according to a pre-sale report.
The notes will mature on Jan. 20, 2035.
The CLO consists of $248 million of class A senior secured floating-rate notes at Libor plus 120 basis points, $36 million of class B-1 senior secured floating-rate notes at Libor plus 180 bps, $20 million of class B-2 3.38% senior secured fixed-rate notes, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 240 bps, $16 million of class D-1 senior secured deferrable floating-rate notes at Libor plus 325 bps, $8 million of class D-2 senior secured deferrable floating-rate notes at Libor plus 475 bps, $16 million of class E senior secured deferrable floating-rate notes at Libor plus 705 bps and $16.5 million of subordinated notes A at Libor plus 607 bps and $23.15 million of subordinated notes B.
Sculptor Loan Management LP will manage the collateral through the end of the reinvestment period on Jan. 20, 2027.
Most of the collateral will come from senior secured loans, cash and eligible investments with most borrowers based in the United States of Canada.
The notes can be called starting TBD.
Deutsche Bank Securities Inc. was the placement agent.
The New York-based firm is part of Sculptor Capital Management, Inc.
| Issuer: | Sculptor CLO XXVIII Ltd./Sculptor CLO XXVIII LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $407.65 million
|
| Maturity: | Jan. 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Sculptor Loan Management LP
|
| Call feature: | TBD
|
| Settlement date: | Dec. 15
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.38%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 475 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 705 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes A
|
| Amount: | $16.5 million
|
| Securities: | Subordinated notes
|
| Coupon: | Libor plus 607 bps
|
|
|
| Subordinated notes B
|
| Amount: | $23.15 million
|
| Securities: | Subordinated notes
|
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