Chicago, May 27 – Symphony Alternative Asset Management LLC sold $403.6 million in a collateralized loan obligation being issued by Symphony CLO XXXIII, Ltd., according to multiple press releases.
The notes will mature on April 24, 2035.
The CLO consists of $1 million of class X amortizing senior secured floating-rate notes at SOFR plus 90 basis points, $256 million of class A senior secured floating-rate notes at SOFR plus 142 bps, $47 million of class B senior secured floating-rate notes at SOFR plus 205 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 245 bps, $25 million of class D senior secured deferrable floating-rate notes at SOFR plus 370 bps, $15 million of class E senior secured deferrable floating-rate notes at SOFR plus 710 bps and $35.6 million of subordinated notes.
Symphony Alternative Asset Management LLC will manage the collateral through the end of the 4.9-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
BNP Paribas Securities Corp. was the placement agent.
Symphony Asset Management is a San Francisco-based asset management firm.
| Issuer: | Symphony CLO XXXIII, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $403.6 million
|
| Maturity: | April 24, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Symphony Alternative Asset Management LLC
|
| Settlement date: | June 7
|
|
|
| Class X notes
|
| Amount: | $1 million
|
| Securities: | Amortizing senior secured floating-rate notes
|
| Coupon: | SOFR plus 90 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A notes
|
| Amount: | $256 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 142 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $47 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 370 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 710 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $35.6 million
|
| Securities: | Subordinated notes
|
|
|
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