Chicago, April 21 – Rockford Tower Capital Management, LLC refinanced $458.1 million from eight classes of notes that list Rockford Tower CLO 2017-1, Ltd./Rockford Tower CLO 2017-1, LLC as co-issuers, according to a notice.
The CLO is refinancing the $3 million of class X senior secured floating-rate notes at Libor plus 70 basis points, $40.3 million of class A-R2 senior secured floating-rate notes at Libor plus 110 bps, $19.8 million of class B-R2a senior secured floating-rate notes at Libor plus 165 bps and $25 million of class B-R2b 3.19% senior secured fixed-rate notes.
Lower, there are $20 million of class C-R2 mezzanine secured deferrable floating-rate notes at Libor plus 210 bps, $12.5 million of class D-R2a mezzanine secured deferrable floating-rate notes at Libor plus 325 bps, $17.5 million of class D-R2b mezzanine secured deferrable floating-rate notes at Libor plus 498 bps and $320 million of class E-R2 junior secured deferrable floating-rate notes at Libor plus 672 bps.
Collateral for the notes primarily comes from broadly syndicated senior secured corporate loans.
Rockford Tower is still managing the collateral through the extended five-year reinvestment period.
The maturity date has also been extended five years, now April 20, 2034.
Originally, the portfolio was LLC $319.8 million of class A-R floating-rate notes at Libor plus 103 bps, $54.75 million of class B-R floating-rate notes at Libor plus 145 bps, $24.75 million of class C-R floating-rate notes at Libor plus 185 bps and $32.25 million of class D-R floating-rate notes at Libor plus 265 bps.
Rockford Tower Capital Management is a Delaware limited liability company.
| Issuers: | Rockford Tower CLO 2017-1, Ltd./Rockford Tower CLO 2017-1, LLC
|
| Issue: | Floating-rate and fixed-rate notes
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| Structure: | Cash flow CLO
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| Amount: | $458.1 million
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| Maturity: | April 20, 2034
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| Manager: | Rockford Tower Capital Management, LLC
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| Announcement date: | April 15
|
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|
| Class X notes
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| Amount: | $3 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 70 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-R2 notes
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| Amount: | $40.3 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 110 bps
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| Rating: | Moody's: Aaa
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|
|
| Class B-R2a notes
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| Amount: | $19.8 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 165 bps
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| Rating: | Moody's: Aa2
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|
|
| Class B-R2b notes
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| Amount: | $25 million
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| Securities: | Senior secured fixed-rate notes
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| Coupon: | 3.19%
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| Rating: | Moody's: Aa2
|
|
|
| Class C-R2 notes
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| Amount: | $20 million
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| Securities: | Mezzanine secured deferrable floating-rate notes
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| Coupon: | Libor plus 210 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-R2a notes
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| Amount: | $12.5 million
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| Securities: | Mezzanine secured deferrable floating-rate notes
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| Coupon: | Libor plus 325 bps
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| Rating: | Moody's: Baa2
|
|
|
| Class D-R2b notes
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| Amount: | $17.5 million
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| Securities: | Mezzanine secured deferrable floating-rate notes
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| Coupon: | Libor plus 498 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E-R2 notes
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| Amount: | $320 million
|
| Securities: | Junior secured deferrable floating-rate notes
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| Coupon: | Libor plus 672 bps
|
| Rating: | Moody's: Ba3
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