Chicago, Sept. 28 – Diameter CLO Advisors LLC sold $393.5 million of notes in a collateralized loan obligation being issued by Diameter Capital CLO 5 Ltd./Diameter Capital CLO 5 LLC, according to a presale report.
The notes will mature on Oct. 15, 2036.
The CLO consists of $240 million of class A-1 senior secured floating-rate notes at SOFR plus 185 basis points, $62 million of class A-2 senior secured floating-rate notes at SOFR plus 240 bps, $25 million of class B senior secured deferrable floating-rate notes at SOFR plus 285 bps, $18 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 420 bps, $5 million of class C-2 senior secured deferrable floating-rate notes at SOFR plus 650 bps, $13 million of class D senior secured deferrable floating-rate notes at SOFR plus 757 bps and $30.5 million of subordinated notes.
Diameter CLO Advisors LLC will manage the collateral through the end of the reinvestment period on Oct. 15, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 15, 2025.
Goldman Sachs Co. LLC was the placement agent.
Diameter Capital Partners is an investment firm based in New York.
| Issuer: | Diameter Capital CLO 5 Ltd./Diameter Capital CLO 5 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $393.5 million
|
| Maturity: | Oct. 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs Co. LLC
|
| Manager: | Diameter CLO Advisors LLC
|
| Call feature: | Oct. 15, 2025
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 28
|
|
|
| Class A-1 notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 185 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $62 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: AA
|
|
|
| Class B notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | S&P: A
|
|
|
| Class C-1 notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 420 bps
|
| Rating: | S&P: BBB
|
|
|
| Class C-2 notes
|
| Amount: | $5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 650 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D notes
|
| Amount: | $13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 757 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $30.5 million
|
| Securities: | Subordinated notes
|
|
|
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