Chicago, July 5 – Arrowmark Colorado Holdings LLC sold $445.6 million in a collateralized loan obligation being issued by Elevation CLO 2022-16, Ltd., according to new issue report.
The notes will mature on June 30, 2022.
The CLO consists of $238 million of class A-1a senior secured floating-rate notes at SOFR plus 159 basis points, $50 million of class A-1b 4.08% senior secured fixed-rate notes, $13.5 million of class A-2b 4.5% senior secured fixed-rate notes, $32 million of class B-1 senior secured floating-rate notes at SOFR plus 249 bps, $5.8 million of class B-2 5.1% senior secured fixed-rate notes, $27.4 million of class C secured deferrable floating-rate notes at SOFR plus 350 bps, $19.8 million of class D-1 secured deferrable floating-rate notes at SOFR plus 488 bps, $7.2 million of class D-2 secured deferrable floating-rate notes at SOFR plus 601 bps, $17.1 million of class E secured deferrable floating-rate notes at SOFR plus 830 bps and $34.8 million of subordinated notes.
Arrowmark Colorado Holdings LLC will manage the collateral through the end of the 4.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Goldman Sachs & Co. LLC was the placement agent.
The investment management firm is based in Denver.
| Issuer: | Elevation CLO 2022-16, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $445.6 million
|
| Maturity: | June 30, 2022
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Arrowmark Colorado Holdings LLC
|
| Settlement date: | June 30
|
|
|
| Class A-1a notes
|
| Amount: | $238 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 159 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1b notes
|
| Amount: | $50 million
|
| Securities: | Senior Secured fixed-rate notes
|
| Coupon: | 4.08%
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2b notes
|
| Amount: | $13.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.5%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $32 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 249 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | $5.8 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.1%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $27.4 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | Moody's: A3
|
|
|
| Class D-1 notes
|
| Amount: | $19.8 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 488 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class D-2 notes
|
| Amount: | $7.2 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 601 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $17.1 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 830 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $34.8 million
|
| Securities: | Subordinated notes
|
|
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