By Cristal Cody
Tupelo, Miss., Nov. 24 – Carlyle Investment Management LLC sold $509.1 million of notes due Nov. 30, 2027 in a collateralized loan obligation transaction, according to a market source.
Carlyle Global Market Strategies CLO 2015-4, Ltd./Carlyle Global Market Strategies CLO 2015-4 LLC priced $321.6 million of class A-1 senior secured floating-rate notes at Libor plus 153 basis points; $55 million of class A-2 senior secured floating-rate notes at Libor plus 225 bps; $24.65 million of class B senior secured deferrable floating-rate notes at Libor plus 325 bps; $33.35 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 405 bps; $25.4 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 610 bps and $49.1 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Carlyle Investment Management will manage the CLO.
The CLO has a three-year non-call period and a five-year reinvestment period.
The deal is backed mainly by first-lien senior secured corporate loans.
Proceeds from the transaction will be used to purchase a portfolio of about $500 million of primarily senior secured leveraged loans.
Carlyle Investment Management has priced three U.S. broadly syndicated CLO deals and one middle-market CLO offering year to date.
The asset management firm is an affiliate of the Washington, D.C.-based Carlyle Group.
| Issuer: | Carlyle Global Market Strategies CLO 2015-4, Ltd./Carlyle Global Market Strategies CLO 2015-4 LLC
|
| Amount: | $509.1 million
|
| Maturity: | Nov. 30, 2027
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Carlyle Investment Management LLC
|
| Call feature: | Three years
|
| Pricing date: | Nov. 10
|
| Settlement date: | Nov. 30
|
| Distribution: | Rule 144A
|
|
|
| Class A-1 notes
|
| Amount: | $321.6 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 153 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class B notes
|
| Amount: | $24.65 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class C notes
|
| Amount: | $33.35 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 405 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class D notes
|
| Amount: | $25.4 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 610 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Equity
|
| Amount: | $49.1 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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