Chicago, Feb. 15 – ORIX Advisers LLC is refinancing and extending for $326.2 million the collateralized loan obligation issued by Signal Peak CLO 3 Ltd./Signal Peak CLO 3 LLC, according to a presale report.
The notes will mature on Jan. 23, 2037.
The CLO consists of $192 million of class A-R3 senior secured floating-rate notes at SOFR plus 159 basis points, $36 million of class B-R3 senior secured floating-rate notes at SOFR plus 205 bps, $16.5 million of class C-R3 senior secured floating-rate notes at SOFR plus 265 bps, $18 million of class D-1R3 senior secured deferrable floating-rate notes at SOFR plus 415 bps, $1.5 million of class D-2R3 9% senior secured deferrable fixed-rate notes, $18.8 million of class E-R3 senior secured deferrable floating-rate notes, class XE-R3 senior secured floating-rate notes at SOFR plus 725 bps and $43.4 million of subordinated notes.
Of special note, the class E-R3 notes are principal-only and notes interest will be payable. The class XE-R3 notes are interest only.
ORIX Advisers LLC will manage the collateral through the end of the reinvestment period on Jan. 23, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 23, 2026.
Jefferies LLC was the placement agent.
ORIX is an investment adviser based out of New York.
The original CLO closed in August 2016, was refinanced in July 2017 and in March 2020.
| Issuer: | Signal Peak CLO 3 Ltd./Signal Peak CLO 3 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $326.2 million
|
| Maturity: | Jan. 23, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | ORIX Advisers LLC
|
| Call feature: | Jan. 23, 2026
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 15
|
|
|
| Class A-R3 notes
|
| Amount: | $192 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 159 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R3 notes
|
| Amount: | $36 million
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R3 notes
|
| Amount: | $16.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 265 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1R3 notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 415 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-2R3 notes
|
| Amount: | $1.5 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 9%
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R3 notes
|
| Amount: | $18.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Rating: | S&P: BB-
|
|
|
| Class XE-R3 notes
|
| Securities: | Senior Secured floating-rate notes
|
| Coupon: | SOFR plus 725 bps
|
|
|
| Subordinated notes
|
| Amount: | $43.4 million
|
| Securities: | Subordinated notes
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
