Chicago, April 30 – Ares Management LP subsidiary Ares CLO Management LLC refinanced three classes of notes from its 2017 Ares XLII CLO Ltd./Ares XLII CLO LLC collateralized loan obligation offering, according to a notice and supplemental indenture.
The issuer sold $248 million of class A-R senior floating-rate notes at Libor plus 92 basis points and $58.5 million of class B-R senior floating-rate notes at Libor plus 150 bps.
The maturity date for the $306.5 million refinancing remains Jan. 24, 2028.
J.P. Morgan Securities LLC was the refinancing placement agent.
Only for the refinancing notes, the non-call period has been extended to Oct. 22, 2021.
Benchmark replacement language has been added to the indenture.
The collateral manager is still Ares CLO Management LLC.
The alternative asset management firm is based in Los Angeles.
| Issuers: | Ares XLII CLO Ltd./Ares XLII CLO LLC
|
| Issue: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | $306.5 million
|
| Maturity: | Jan. 24, 2028
|
| Agent: | J.P. Morgan Securities LLC
|
| Manager: | Ares CLO Management LLC
|
| Call: | Oct. 22, 2021
|
| Settlement date: | April 22
|
|
|
| Class A-R notes
|
| Amount: | $248 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 92 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $58.5 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Moody's: Aa2
|
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