- Saratoga Investment ( NYSE: SAR ) on Monday priced a $400M CLO called Saratoga Investment Corp Senior Loan Fund 2022-1.
- SLF 2022 is a unit of Saratoga Senior Loan Fund I JV, and under joint control and co-managed by SAR and TJHA JV I.
- SLF JV was formed to invest in a diversified portfolio of broadly syndicated first lien and second lien term loans or bonds in the primary and secondary markets.
- The non-call period expires in Apr. 2025 on the class A-1, A-2, B and C notes, and expires in Oct. 2024 on the class D and E notes.
- The reinvestment period expires in Oct. 2025, and the legal final date is in Oct. 2033.
- The anticipated closing date is Oct. 28.
- SAR will own 87.5% of the E notes and SLF JV will own 100% of the subordinated notes on the closing date.
- SAR owns 87.5% of the unsecured loans and membership interests of the SLF JV.
For further details see:
Saratoga Investment prices $400M CLO