Chicago, April 25 – Canyon CLO Advisors LP priced $500.35 million in a collateralized loan obligation being issued by Canyon CLO 2023-2 Ltd./Canyon CLO 2023-2 LLC, according to a presale report.
The notes will mature on May 15, 2037.
The CLO consists of $315 million of class A-1 floating-rate notes at SOFR plus 155 basis points, $15 million of class A-2 floating-rate notes at SOFR plus 177 bps, $50 million of class B floating-rate notes at SOFR plus 205 bps, $30 million of class C floating-rate notes at SOFR plus 250 bps, $30 million of class D floating-rate notes at SOFR plus 360 bps, $20 million of class E floating-rate notes at SOFR plus 665 bps and $40.35 million of subordinated notes.
Canyon CLO Advisors LP will manage the collateral through the end of the reinvestment period on May 15, 2029.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting April 15, 2026.
Deutsche Bank Securities Inc. was the placement agent.
Canyon CLO Advisors is a Los Angeles-based subsidiary of alternative asset manager Canyon Capital Advisors LLC.
| Issuer: | Canyon CLO 2023-2 Ltd./Canyon CLO 2023-2 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $500.35 million
|
| Maturity: | May 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Canyon CLO Advisors LP
|
| Call feature: | April 15, 2026
|
| Pricing date: | April 17
|
| Settlement date: | May 15
|
|
|
| Class A-1 notes
|
| Amount: | $315 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 155 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 177 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 665 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $40.35 million
|
| Securities: | Subordinated notes
|
|
|
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