AB Private prices $300.5 million middle-market CLO; RREEF brings CDO; LCM refinances

By Cristal Cody

Tupelo, Miss., Aug. 14 – AB Private Credit Investors LLC sold $300.5 million of notes in a new middle-market offering.

Meanwhile, a collateralized debt obligation was priced in the primary market. RREEF America LLC sold $401.33 million of notes in the broadly syndicated CDO transaction.

In other action, LCM Asset Management LLC sold $375.55 million of notes in a second refinancing of a vintage 2013 CLO.

In its deal, AB Private Credit Investors sold $300.5 million of notes due Aug. 9, 2030 in the ABPCI Direct Lending Fund CLO VI Ltd./ABPCI Direct Lending Fund CLO VI LLC middle-market offering, according to an informed source.

The CLO priced $178.2 million of class A-1 floating-rate notes at Libor plus 173 basis points at the top of the capital structure.

Separately, RREEF America priced $401.33 million of notes due July 24, 2030 in its broadly syndicated CDO transaction, according to a market source.

RIN II Ltd. sold $256 million of the class A floating-rate notes at Libor plus 165 bps.

Meanwhile, LCM Asset Management refinanced $375.55 million of notes due July 19, 2027 from the vintage 2013 LCM XIII LP CLO offering, according to a market source.

The CLO sold $322.5 million of the class A-RR floating-rate notes at par to yield Libor plus 114 bps.

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