Chicago, March 1 – STWD Investment Management, LLC sold $500 million in a collateralized loan obligation being issued by STWD 2021-SIF2, Ltd., according to a press release.
The notes will mature on Jan. 17, 2033.
The CLO consists of $293 million of class A-1 senior secured floating-rate notes, $7 million of class A-2 2.7% senior secured fixed-rate notes, $52.5 million of class B senior secured floating-rate notes, $22.5 million of class C deferrable mezzanine floating-rate notes, $35 million of class D deferrable mezzanine floating-rate notes and $90 million of preferred shares.
STWD Investment Management, LLC will manage the collateral through the end of the three-year reinvestment period.
The CLO is backed by syndicated senior secured project finance and corporate infrastructure loans.
MUFG Securities Americas Inc. was the placement agent. This is the second CLO MUFG has worked on for STWD.
STWD is an advisory firm based in Miami Beach.
| Issuer: | STWD 2021-SIF2, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and preferred shares
|
| Amount: | $500 million
|
| Maturity: | Jan. 17, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | MUFG Securities Americas Inc.
|
| Manager: | STWD Investment Management, LLC
|
| Settlement date: | Jan. 10
|
|
|
| Class A-1 notes
|
| Amount: | $293 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $7 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.7%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $52.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa3
|
|
|
| Class C notes
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| Amount: | $22.5 million
|
| Securities: | Deferrable mezzanine floating-rate notes
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| Rating: | Moody's: A3
|
|
|
| Class D notes
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| Amount: | $35 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Preferred shares
|
| Amount: | $90 million
|
| Securities: | Subordinated notes
|
|
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