Chicago, March 15 – Elmwood Asset Management LLC sold $608.2 million in a collateralized loan obligation being issued by Elmwood CLO 26 Ltd./Elmwood CLO 26 LLC, according to a presale report.
The notes will mature on April 18, 2037.
The CLO consists of $372 million of class A-1 senior secured floating-rate notes at SOFR plus 150 basis points, $12 million of class A-2 senior secured floating-rate notes at SOFR plus 170 bps, $72 million of class B senior secured floating-rate notes at SOFR plus 200 bps, $36 million of class C senior secured deferrable floating-rate notes at SOFR plus 240 bps, $36 million of class D senior secured deferrable floating-rate notes at SOFR plus 360 bps, $21 million of class E senior secured deferrable floating-rate notes at SOFR plus 645 bps and $59.2 million of subordinated notes.
Elmwood Asset Management LLC will manage the collateral through the end of the reinvestment period on April 18, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting March 28, 2026.
BofA Securities Inc. was the placement agent.
The hedge fund is based in New York.
| Issuer: | Elmwood CLO 26 Ltd./Elmwood CLO 26 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $608.2 million
|
| Maturity: | April 18, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Elmwood Asset Management LLC
|
| Call feature: | March 28, 2026
|
| Pricing date: | March 13
|
| Settlement date: | March 28
|
|
|
| Class A-1 notes
|
| Amount: | $372 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 150 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 170 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $72 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 645 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $59.2 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.
