By Cristal Cody
Tupelo, Miss., April 24 – Antares Capital Advisers LLC priced an upsized $2.11 billion of notes due July 20, 2028 in the debut Antares CLO 2017-1, Ltd./Antares CLO 2017-1, LLC middle-market collateralized loan obligation, according to an informed source.
The deal was upsized from $1,817,880,000.
The CLO priced the AAA-rated tranche of class A senior secured floating-rate notes at Libor plus 173 basis points. Additional pricing details were not available by press time.
Deutsche Bank Securities Inc. was the placement agent.
Antares will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
The notes are backed primarily by small to middle enterprise senior secured loans.
Antares Capital Advisers is a Chicago-based investment management firm and affiliate of Antares Holding LP.
| Issuers: | Antares CLO 2017-1, Ltd./Antares CLO 2017-1, LLC
|
| Amount: | $2.11 billion
|
| Maturity: | July 20, 2028
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| Securities: | Floating-rate and subordinated notes
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| Structure: | Cash flow CLO
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| Placement agent: | Deutsche Bank Securities Inc.
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| Manager: | Antares Capital Advisers LLC
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| Call feature: | Two years
|
| Pricing date: | April 20
|
| Settlement date: | May 18
|
|
|
| Class A notes
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| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 173 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
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