Chicago, Jan. 14 – Octagon Credit Investors LLC refinanced and extended for $613.42 million the collateralized loan obligation issued by Octagon Investment Partners 40 Ltd./Octagon Investment Partners 40 LLC, according to a pre-sale report.
The notes will mature on Jan. 20, 2035.
The CLO now consists of $378 million of class A-1-R senior secured floating-rate notes at Libor plus 117 basis points, $12 million of class A-2-R senior secured floating-rate notes at Libor plus 140 bps, $66 million of class B-R senior secured floating-rate notes at Libor plus 170 bps, $29 million of class C-1-R senior secured deferrable floating-rate notes at Libor plus 215 bps, $7 million of class C-2-R 3.5% senior secured deferrable fixed-rate notes, $36 million of class D-R senior secured deferrable floating-rate notes at Libor plus 335 bps, $24 million of class E-R senior secured deferrable floating-rate notes at Libor plus 700 bps and $61.42 million of subordinated notes.
Octagon Credit Investors LLC will manage the collateral through the end of the reinvestment period on Jan. 20, 2027.
Collateral comes from a pool of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Dec. 15, 2023.
BNP Paribas Securities Corp. was the placement agent.
Octagon Credit Investors is a New York-based credit investment firm.
Issuer: | Octagon Investment Partners 40 Ltd./Octagon Investment Partners 40 LLC
|
Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
Amount: | $613.42 million
|
Maturity: | Jan. 20, 2035
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Structure: | Cash flow CLO
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Placement agent: | BNP Paribas Securities Corp.
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Manager: | Octagon Credit Investors LLC
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Call feature: | Dec. 15, 2023
|
Settlement date: | Dec. 15
|
|
Class A-1-R notes
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Amount: | $378 million
|
Securities: | Senior secured floating-rate notes
|
Coupon: | Libor plus 117 bps
|
Rating: | S&P: AAA
|
|
Class A-2-R notes
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Amount: | $12 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 140 bps
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Rating: | S&P: AAA
|
|
Class B-R notes
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Amount: | $66 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 170 bps
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Rating: | S&P: AA
|
|
Class C-1-R notes
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Amount: | $29 million
|
Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 215 bps
|
Rating: | S&P: A
|
|
Class C-2-R notes
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Amount: | $7 million
|
Securities: | Senior secured deferrable fixed-rate notes
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Coupon: | 3.5%
|
Rating: | S&P: A
|
|
Class D-R notes
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Amount: | $36 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 335 bps
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Rating: | S&P: BBB-
|
|
Class E-R notes
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Amount: | $24 million
|
Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 700 bps
|
Rating: | S&P: BB-
|
|
Subordinated notes
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Amount: | $61.42 million
|
Securities: | Subordinated notes
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