Carlyle Investment Management preps $617.5 million 11-year CLO offering

By Cristal Cody

Tupelo, Miss., May 22 - Carlyle Investment Management LLC plans to price $617.5 million of notes due 2025 in a collateralized loan obligation deal, according to an informed source.

The Carlyle Global Market Strategies CLO 2014-2, Ltd./Carlyle Global Market Strategies CLO 2014-2 LLC transaction includes $377 million of class A senior secured floating-rate notes (Aaa/AAA/), $80 million of class B senior secured floating-rate notes (/AA/), $40 million of class C deferrable floating-rate notes (/A/), $31.5 million of class D deferrable floating-rate notes (/BBB/), $26.4 million of class E deferrable floating-rate notes (/BB/), $26.4 million of class F deferrable floating-rate notes (/B/) and $51 million of subordinated notes.

Mitsubishi UFJ Securities (USA) Inc. is the placement agent.

Carlyle Investment Management will manage the CLO, which is backed primarily by broadly syndicated senior secured corporate loans.

The CLO has a two-year non-call period and a four-year reinvestment period.

Carlyle Investment Management, part of the Washington, D.C.-based Carlyle Group, brought the $726.5 million Carlyle Global Market Strategies CLO 2014-1, Ltd. deal on Feb. 28.

The firm priced four U.S. CLO transactions in 2013.

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