By Cristal Cody
Tupelo, Miss., May 19 – 325 Fillmore LLC sold $159.4 million of notes due July 20, 2029 in a broadly syndicated collateralized loan obligation deal, according to a market source.
Peaks CLO 2, Ltd. priced $69.21 million of class A-1 senior secured floating-rate notes at Libor plus 225 basis points; $15.79 million of 4.129% class A-2 senior secured fixed-rate notes; $18 million of class B senior secured floating-rate notes at Libor plus 320 bps; $9 million of class C secured deferrable floating-rate notes at Libor plus 400 bps; $11 million of class D secured deferrable floating-rate notes at Libor plus 575 bps and $11 million of class E secured deferrable floating-rate notes at Libor plus 775 bps.
The deal included $11.4 million of senior subordinated notes and $14 million of junior subordinated notes.
Guggenheim Securities LLC arranged the refinancing.
325 Fillmore will manage the CLO.
The CLO will have a two-year non-call period and a four-year reinvestment period.
Proceeds from the transaction will be used to purchase a portfolio of about $150 million of mostly leveraged loans and syndicated middle market loans.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
325 Fillmore is an affiliate of Denver-based ArrowMark Colorado Holdings LLC, formerly known as Arrowpoint Asset Management, LLC.
| Issuer: | Peaks CLO 2, Ltd.
|
| Amount: | $159.4 million
|
| Maturity: | July 20, 2029
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Guggenheim Securities LLC
|
| Manager: | 325 Fillmore LLC
|
| Call feature: | Two years
|
| Settlement date: | May 18
|
| Distribution: | Rule 144A
|
|
|
| Class A-1 notes
|
| Amount: | $69.21 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 152 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $15.79 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.129%
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $18 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 295 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C notes
|
| Amount: | $9 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 468 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class D notes
|
| Amount: | $11 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 771 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class E notes
|
| Amount: | $11 million
|
| Securities: | Secured deferrable floating-rate notes
|
| Coupon: | Libor plus 771 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Equity
|
| Amount: | $11.4 million
|
| Securities: | Senior subordinated notes
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $14 million
|
| Securities: | Junior subordinated notes
|
| Ratings: | Non-rated
|
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