By Cristal Cody
Eureka Springs, Ark., Dec. 5 – Carlyle Investment Management LLC sold $579 million of notes due April 17, 2025 in a refinancing of a vintage 2014 broadly syndicated collateralized loan obligation transaction, according to a market source.
Carlyle Global Market Strategies CLO 2014-1 Ltd. priced $448 million of class A-R floating-rate notes at Libor plus 130 basis points, $67 million of class B-R floating-rate notes at Libor plus 180 bps and $64 million of class C-R floating-rate notes at Libor plus 275 bps.
Credit Suisse Securities (USA) LLC arranged the refinancing.
Carlyle has priced four new CLOs and refinanced five vintage CLOs year to date.
The asset management firm is an affiliate of Washington, D.C.-based Carlyle Group.
| Issuer: | Carlyle Global Market Strategies CLO 2014-1 Ltd.
|
| Amount: | $579 million
|
| Maturity: | April 17, 2025
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | Carlyle Investment Management LLC
|
| Pricing date: | Dec. 1
|
| Refinancing date: | Dec. 9
|
|
|
| Class A-R notes
|
| Amount: | $448 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 130 bps
|
| Ratings: | Moody’s: Aaa (expected)
|
| S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $67 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $64 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 275 bps
|
| Rating: | S&P: A
|
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