Chicago, March 20 – Sixth Street CLO XXII Management LLC sold $401.59 million in a collateralized loan obligation being issued by Sixth Street CLO XXII Ltd./Sixth Street CLO XXII LLC, according to a presale report.
The notes will mature on April 22, 2036.
The CLO consists of $248 million of class A senior secured floating-rate notes at SOFR plus 180 basis points, $52 million of class B senior secured floating-rate notes at SOFR plus 250 bps, $24.8 million of class C senior secured deferrable floating-rate notes at SOFR plus 300 bps, $22.4 million of class D senior secured deferrable floating-rate notes at SOFR plus 500 bps, $12.8 million of class E senior secured deferrable floating-rate notes at SOFR plus 780 bps and $41.59 million of subordinated notes.
Sixth Street CLO XXII Management LLC will manage the collateral through the end of the reinvestment period on April 22, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting March 22, 2025.
J.P. Morgan Securities LLC was the placement agent.
Sixth Street is a global investment firm based in San Francisco.
Issuer: | Sixth Street CLO XXII Ltd./Sixth Street CLO XXII LLC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $401.59 million
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Maturity: | April 22, 2036
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Structure: | Cash flow CLO
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Placement agent: | J.P. Morgan Securities LLC
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Manager: | Sixth Street CLO XXII Management LLC
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Call feature: | March 22, 2025
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Settlement date: | March 22
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Class A notes
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Amount: | $248 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 180 bps
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Rating: | S&P: AAA
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Class B notes
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Amount: | $52 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 250 bps
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Rating: | S&P: AA
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Class C notes
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Amount: | $24.8 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 300 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $22.4 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 500 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $12.8 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 780 bps
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $41.59 million
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Securities: | Subordinated notes
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