Chicago, March 7 – Pretium Credit CLO Management, LLC sold $407.5 million in a collateralized loan obligation being issued by Crown Point CLO 11 Ltd./Crown Point CLO 11 LLC, according to multiple notices.
The notes will mature on Jan. 17, 2034.
The CLO consists of $248 million of class A senior secured floating-rate notes at SOFR plus 112 basis points, $56 million of class B senior secured floating-rate notes at SOFR plus 175 bps, $22.4 million of class C secured deferrable mezzanine floating-rate notes at SOFR plus 230 bps, $22.4 million of class D secured deferrable mezzanine floating-rate notes at SOFR plus 360 bps, $19.2 million of class E secured deferrable junior floating-rate notes at SOFR plus 681 bps and $39.5 million of subordinated notes.
Pretium Credit CLO Management, LLC will manage the collateral through the end of the three-year reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Barclays was the placement agent.
Pretium Credit CLO Management is an investment advisory firm based in New York.
| Issuer: | Crown Point CLO 11 Ltd./Crown Point CLO 11 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $407.5 million
|
| Maturity: | Jan. 17, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Pretium Credit CLO Management, LLC
|
| Settlement date: | Dec. 23, 2021
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 112 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $56 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $22.4 million
|
| Securities: | Secured deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $22.4 million
|
| Securities: | Secured deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $19.2 million
|
| Securities: | Secured deferrable junior floating-rate notes
|
| Coupon: | SOFR plus 681 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $39.5 million
|
| Securities: | Subordinated notes
|
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