Chicago, Feb. 7 – Elmwood Asset Management LLC sold $505 million in a collateralized loan obligation being issued by Elmwood CLO 25 Ltd./Elmwood CLO 25 LLC, according to a presale report.
The notes will mature on April 17, 2037.
The CLO consists of $310 million of class A-1 senior secured floating-rate notes at SOFR plus 153 basis points, $10 million of class A-2 senior secured floating-rate notes at SOFR plus 173 bps, $60 million of class B senior secured floating-rate notes at SOFR plus 200 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 240 bps, $30 million of class D senior secured deferrable floating-rate notes at SOFR plus 375 bps, $20 million of class E senior secured deferrable floating-rate notes at SOFR plus 525 bps, $5 million of class F senior secured deferrable floating-rate notes at SOFR plus 833 bps and $40 million of subordinated notes.
Elmwood Asset Management LLC will manage the collateral through the end of the reinvestment period on April 17, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 17, 2026.
Morgan Stanley & Co. LLC was the placement agent.
The hedge fund is based in New York.
| Issuer: | Elmwood CLO 25 Ltd./Elmwood CLO 25 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $505 million
|
| Maturity: | April 17, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Elmwood Asset Management LLC
|
| Call feature: | April 17, 2026
|
| Pricing date: | Feb. 6
|
| Settlement date: | March 6
|
|
|
| Class A-1 notes
|
| Amount: | $310 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 153 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 173 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 525 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | $5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 833 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $40 million
|
| Securities: | Subordinated notes
|
|
|
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