Chicago, Oct. 4 – Sixth Street CLO XXIII Management LLC sold $404.5 million in a collateralized loan obligation being issued by Sixth Street CLO XXIII Ltd./Sixth Street CLO XXIII LLC, according to a presale report.
The notes will mature on Oct. 23, 2036.
The CLO consists of $248 million of class A senior secured floating-rate notes at SOFR plus 174 basis points, $49 million of class B senior secured floating-rate notes at SOFR plus 225 bps, $31 million of class C senior secured deferrable floating-rate notes at SOFR plus 270 bps, $23.3 million of class D senior secured deferrable floating-rate notes at SOFR plus 420 bps, $12.7 million of class E senior secured deferrable floating-rate notes at SOFR plus 705 bps and $40.5 million of subordinated notes.
Sixth Street CLO XXIII Management LLC will manage the collateral through the end of the reinvestment period on Oct. 23, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 23, 2025.
Citigroup Global Markets Inc. was the placement agent.
Sixth Street is a global investment firm based in San Francisco.
| Issuer: | Sixth Street CLO XXIII Ltd./Sixth Street CLO XXIII LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $404.5 million
|
| Maturity: | Oct. 23, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Sixth Street CLO XXIII Management LLC
|
| Call feature: | Oct. 23, 2025
|
| Pricing date: | Oct. 3
|
| Settlement date: | Nov. 2
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 174 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $49 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $31 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $23.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 420 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 705 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40.5 million
|
| Securities: | Subordinated notes
|
|
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