Chicago, March 29 – Crestline Denali Capital, LP refinanced two classes of notes still due Oct. 15, 2031 from the Crestline Denali CLO XVII, Ltd./Crestline Denali CLO XVII LLC offering, according to a notice.
The refinancing includes $254 million of class A-R senior secured floating-rate notes at Libor plus 106 basis points and $50 million of class B-R senior secured floating-rate notes at Libor plus 165 bps.
The original portfolio also has $20 million of class C senior secured deferrable floating-rate notes at Libor plus 235 bps; $26 million of class D senior secured deferrable floating-rate notes at Libor plus 325 bps; $17 million of class E secured deferrable floating-rate notes at Libor plus 620 bps and $40.2 million of subordinated notes which were not part of the refinancing.
The deal is backed mainly by broadly syndicated first-lien senior secured corporate loans.
Crestline Denali Capital will continue to manage the portfolio through the end of the reinvestment period.
The non-call period has been extended as part of the refinancing.
The asset management firm is based in Oak Brook, Ill.
| Issuers: | Crestline Denali CLO XVII, Ltd./Crestline Denali CLO XVII LLC
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| Issue: | Floating-rate notes
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| Structure: | Cash flow CLO
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| Amount: | $304 million
|
| Maturity: | Oct. 15, 2031
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| Manager: | Crestline Denali Capital, LP
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| Announcement date: | March 25
|
|
|
| Class A-R notes
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| Amount: | $254 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 106 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
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| Amount: | $50 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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