Chicago, Oct. 17 – Wellington Management CLO Advisors LLC sold $405.6 million in a collateralized loan obligation being issued by Wellington Management CLO 1 Ltd./Wellington Management CLO 1 LLC, according to a presale report.
The notes will mature on Oct. 20, 2036.
The CLO consists of $152 million of class A senior secured floating-rate notes at SOFR plus 180 basis points, $100 million of class A senior secured floating-rate loans at SOFR plus 180 bps, $52 million of class B senior secured floating-rate notes at SOFR plus 245 bps, $24 million of class C senior secured deferrable floating-rate notes at SOFR plus 310 bps, $23 million of class D senior secured deferrable floating-rate notes at SOFR plus 485 bps, $12.6 million of class E senior secured deferrable floating-rate notes at SOFR plus 766 bps and $42 million of subordinated notes.
Wellington Management CLO Advisors LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2028.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 20, 2025.
Morgan Stanley & Co. LLC was the placement agent.
Wellington is an investment adviser based in Boston.
| Issuer: | Wellington Management CLO 1 Ltd./Wellington Management CLO 1 LLC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $405.6 million
|
| Maturity: | Oct. 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Wellington Management CLO Advisors LLC
|
| Call feature: | Oct. 20, 2025
|
| Pricing date: | Oct. 17
|
| Settlement date: | Oct. 24
|
|
|
| Class A notes
|
| Amount: | $152 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A loans
|
| Amount: | $100 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 485 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 766 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $42 million
|
| Securities: | Subordinated notes
|
|
|
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