Chicago, April 6 – Post Advisory Group LLC sold $400 million in a collateralized loan obligation being issued by Post CLO 2023-1 Ltd./Post CLO 2023-1 LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $201.2 million of class A senior secured floating-rate notes at SOFR plus 195 basis points, $50 million of class A senior secured floating-rate loans at SOFR plus 195 bps, $42.8 million of class B-1 senior secured floating-rate notes at SOFR plus 250 bps, $10 million of class B-2 6.19% senior secured fixed-rate notes, $22 million of class C senior secured deferrable floating-rate notes at SOFR plus 325 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 525 bps, $12 million of class E senior secured deferrable floating-rate notes at SOFR plus 790 bps and $38 million of subordinated notes.
Post Advisory Group LLC will manage the collateral through the end of the reinvestment period on April 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting March 30, 2025.
J.P. Morgan Securities LLC was the placement agent.
Post Advisory Group is an asset manager based in Los Angeles.
| Issuer: | Post CLO 2023-1 Ltd./Post CLO 2023-1 LLC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | $400 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Post Advisory Group LLC
|
| Call feature: | March 30, 2025
|
| Settlement date: | March 30
|
|
|
| Class A notes
|
| Amount: | $201.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A loans
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 195 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $42.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.19%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 525 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 790 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $38 million
|
| Securities: | Subordinated notes
|
|
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