Chicago, May 16 – Vibrant Credit Partners, LLC sold $398 million of notes and loans in a collateralized loan obligation being issued by Vibrant CLO XVI, Ltd., according to a presale report.
The notes will mature on April 15, 2036.
The CLO consists of $183 million of class A-1A senior secured floating-rate notes at SOFR plus 210 basis points, $65 million of class A-1A senior secured floating-rate loans at SOFR plus 210 bps, $0 million of class A-1A-L senior secured floating-rate notes at SOFR plus 210 bps, $12 million of class A-1B senior secured floating-rate notes at SOFR plus 250 bps, $42 million of class A-2 senior secured floating-rate notes at SOFR plus 280 bps, $22 million of class B secured deferrable floating-rate notes at SOFR plus 370 bps, $22 million of class C secured deferrable floating-rate notes at SOFR plus 584 bps, $15 million of class D secured deferrable floating-rate notes at SOFR plus 820 bps and $37 million of subordinated notes.
Vibrant Credit Partners, LLC will manage the collateral through the end of the reinvestment period on April 17, 2028.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting April 15, 2025.
BNP Paribas Securities Corp. was the placement agent.
Vibrant Capital Partners is an asset management firm based in New York. The firm was previously called DFG Investment Advisors.
| Issuer: | Vibrant CLO XVI, Ltd.
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $398 million
|
| Maturity: | April 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Vibrant Credit Partners, LLC
|
| Call feature: | April 15, 2025
|
| Settlement date: | May 12
|
|
|
| Class A-1A notes
|
| Amount: | $183 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1A loans
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1A-L notes
|
| Amount: | $ million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1B notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $42 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 280 bps
|
| Rating: | Fitch: AA
|
|
|
| Class B notes
|
| Amount: | $22 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 370 bps
|
| Rating: | Fitch: A
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 584 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class D notes
|
| Amount: | $15 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 820 bps
|
| Rating: | Fitch: BB-
|
|
|
| Subordinated notes
|
| Amount: | $37 million
|
| Securities: | Subordinated notes
|
|
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