Chicago, March 13 – Silver Point Specialty Credit Fund II Management LLC sold $398.3 million in a collateralized loan obligation being issued by Silver Point SCF CLO II Ltd./Silver Point SCF CLO II LLC, according to a presale report.
The notes will mature on July 15, 2034.
The CLO consists of $228 million of class A senior secured floating-rate notes at SOFR plus 280 basis points, $36 million of class B senior secured floating-rate notes at SOFR plus 375 bps, $28 million of class C senior secured deferrable floating-rate notes at SOFR plus 475 bps, $20 million of class D senior secured deferrable floating-rate notes at SOFR plus 695 bps and $86.3 million of subordinated notes.
Silver Point Specialty Credit Fund II Management LLC will manage the collateral through the end of the reinvestment period on July 15, 2026.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting March 14, 2025.
Deutsche Bank Securities Inc. was the placement agent.
Silver Point Specialty Credit Fund Management LLC is a subsidiary of Silver Point Capital, LP.
| Issuer: | Silver Point SCF CLO II Ltd./Silver Point SCF CLO II LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $398.3 million
|
| Maturity: | July 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Silver Point Specialty Credit Fund II Management LLC
|
| Call feature: | March 14, 2025
|
| Settlement date: | March 14
|
|
|
| Class A notes
|
| Amount: | $228 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 280 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 475 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 695 bps
|
|
|
| Subordinated notes
|
| Amount: | $86.3 million
|
| Securities: | Subordinated notes
|
|
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