Chicago, April 22 – Sycamore Tree CLO Advisors LP sold $504.43 million of notes in a collateralized loan obligation being issued by Sycamore Tree CLO 2024-5 Ltd./Sycamore Tree CLO 2024-5 LLC, according to a presale report.
The notes will mature on April 20, 2036.
The CLO consists of $310 million of class A-1 senior secured floating-rate notes at SOFR plus 142 basis points, $20 million of class A-2 senior secured floating-rate notes at SOFR plus 180 bps, $50 million of class B senior secured floating-rate notes at SOFR plus 225 bps, $30 million of class C senior secured deferrable floating-rate notes at SOFR plus 275 bps, $30 million of class D-1 senior secured deferrable floating-rate notes at SOFR plus 425 bps, $5 million of class D-2 senior secured deferrable floating-rate notes at SOFR plus 550 bps, $12.5 million of class E senior secured deferrable floating-rate notes at SOFR plus 749 bps and $46.93 million of subordinated notes.
Sycamore Tree CLO Advisors LP will manage the collateral through the end of the reinvestment period on April 20, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 20, 2025.
Goldman Sachs & Co. LLC was the placement agent.
Sycamore Tree is an asset manager based in Dallas. The firm was founded in 2020.
| Issuer: | Sycamore Tree CLO 2024-5 Ltd./Sycamore Tree CLO 2024-5 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $504.43 million
|
| Maturity: | April 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Sycamore Tree CLO Advisors LP
|
| Call feature: | April 20, 2025
|
| Pricing date: | April 15
|
| Settlement date: | April 24
|
|
|
| Class A-1 notes
|
| Amount: | $310 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 142 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $50 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 225 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | S&P: A
|
|
|
| Class D-1 notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 425 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class D-2 notes
|
| Amount: | $5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 550 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 749 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $46.93 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.
