Chicago, Feb. 6 – Elmwood Asset Management LLC refinanced and extended for $456.75 million the collateralized loan obligation issued by Elmwood CLO 20 Ltd./Elmwood CLO 20 LLC, according to a presale report.
The notes will mature on Jan. 17, 2037.
The refinanced CLO consists of $288 million of class A-R senior secured floating-rate notes at SOFR plus 150 basis points, $54 million of class B-R senior secured floating-rate notes at SOFR plus 205 bps, $27 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 240 bps, $27 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 365 bps, $18 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 600 bps, $6.75 million of class F-R senior secured deferrable floating-rate notes at SOFR plus 800 bps and $36 million of subordinated notes.
The original CLO contained $283.5 million of class A senior secured floating-rate notes at SOFR plus 200 bps, $47.25 million of class B-1 senior secured floating-rate notes at SOFR plus 275 bps, $11.25 million of class B-2 6.05% senior secured fixed-rate notes, $27 million of class C senior secured deferrable floating-rate notes at SOFR plus 385 bps, $24.3 million of class D senior secured deferrable floating-rate notes at SOFR plus 510 bps, $14.85 million of class E senior secured deferrable floating-rate notes at SOFR plus 855 bps, $5.85 million of class F senior secured deferrable floating-rate notes at SOFR plus 855 bps and $36 million of subordinated notes.
Elmwood Asset Management LLC will manage the collateral through the end of the reinvestment period on Jan. 17, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 17, 2026.
RBC Capital Markets LLC was the placement agent.
The hedge fund is based in New York.
Issuer: | Elmwood CLO 20 Ltd./Elmwood CLO 20 LLC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $456.75 million
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Maturity: | Jan. 17, 2037
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Structure: | Cash flow CLO
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Placement agent: | RBC Capital Markets LLC
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Manager: | Elmwood Asset Management LLC
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Call feature: | Jan. 17, 2026
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Pricing date: | Feb. 1
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Settlement date: | Feb. 8
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Class A-R notes
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Amount: | $288 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 150 bps
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Rating: | S&P: AAA
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Class B-R notes
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Amount: | $54 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 205 bps
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Rating: | S&P: AA
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Class C-R notes
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Amount: | $27 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 240 bps
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Rating: | S&P: A
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Class D-R notes
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Amount: | $27 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 365 bps
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Rating: | S&P: BBB-
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Class E-R notes
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Amount: | $18 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 600 bps
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Rating: | S&P: BB-
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Class F-R notes
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Amount: | $6.75 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 800 bps
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Rating: | S&P: B-
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Subordinated notes
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Amount: | $36 million
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Securities: | Subordinated notes
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