Palmer Square offers $200.4 million Palmer Square Loan Funding CLO

By Cristal Cody

Eureka Springs, Ark., April 25 – Palmer Square Capital Management LLC is marketing a $200,475,000 collateralized loan obligation offering of notes due June 21, 2024, a source said.

The Palmer Square Loan Funding 2016-2 Ltd./Palmer Square Loan Funding 2016-2 LLC transaction includes $135 million of class A-1 floating-rate notes (AAA); $18.4 million of class A-2 floating-rate notes (AA); $16.9 million of class B deferrable floating-rate notes (A); $7.65 million of class C deferrable floating-rate notes (BBB); $7.05 million of class D deferrable floating-rate notes (BB) and $15,475,000 of subordinated notes.

J.P. Morgan Securities LLC will arrange the transaction.

Palmer Square Capital Management will manage the CLO.

The CLO is non-callable until June 21, 2017. The deal does not have a reinvestment period.

The offering is backed primarily by broadly syndicated senior secured loans.

Leawood, Kan.-based Palmer Square Capital Management priced three CLOs in 2015.

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