Chicago, Sept. 7 – Morgan Stanley Eaton Vance CLO Manager LLC sold $394.95 million in a collateralized loan obligation being issued by Morgan Stanley Eaton Vance CLO 2022-18, Ltd./Morgan Stanley Eaton Vance CLO 2022-18, LLC, according to a new issue report and a press release.
The notes will mature on Oct. 22, 2035.
The CLO consists of $246 million of class A-1 senior secured floating-rate notes at SOFR plus 190 basis points, $14 million of class A-2 senior secured floating-rate notes at SOFR plus 250 bps, $44 million of class B senior secured floating-rate notes at SOFR plus 285 bps, $22 million of class C mezzanine secured deferrable floating-rate notes at SOFR plus 385 bps, $25 million of class D mezzanine secured deferrable floating-rate notes at SOFR plus 500 bps, $15 million of class E junior secured deferrable floating-rate notes at SOFR plus 883 bps and $28.95 million of subordinated notes.
Morgan Stanley Eaton Vance CLO Manager LLC will manage the collateral through the end of the reinvestment period in October 2027.
Collateral for the notes consists of first-lien senior secured loans.
The notes can be called starting October 2024.
Wells Fargo Securities, LLC was the placement agent.
Morgan Stanley Investment Management is a New York-based capital manager and subsidiary of financial products and services company Morgan Stanley.
| Issuer: | Morgan Stanley Eaton Vance CLO 2022-18, Ltd./Morgan Stanley Eaton Vance CLO 2022-18, LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $394.95 million
|
| Maturity: | Oct. 22, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities, LLC
|
| Manager: | Morgan Stanley Eaton Vance CLO Manager LLC
|
| Call feature: | October 2024
|
| Settlement date: | Oct. 14
|
|
|
| Class A-1 notes
|
| Amount: | $246 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $14 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 385 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $25 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 500 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $15 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 883 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $28.95 million
|
| Securities: | Subordinated notes
|
|
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