Crestline Denali Capital to price $360.6 million notes due 2028 in Crestline Denali CLO XIV

By Cristal Cody

Eureka Springs, Ark., Aug. 31 – Crestline Denali Capital, LP plans to price $360,575,000 of notes due Oct. 23, 2028 in its second collateralized loan obligation offering of the year, according to a market source.

The Crestline Denali CLO XIV, Ltd./Crestline Denali CLO XIV LLC transaction includes $222.25 million of class A floating-rate notes (//AAA); $42,875,000 of class B floating-rate notes; $20.35 million of class C floating-rate notes; $19 million of class D floating-rate notes; $17.5 million of class E floating-rate notes and $38.6 million of subordinated notes.

BNP Paribas Securities Corp. is the placement agent.

Crestline Denali will manage the CLO.

The CLO is backed entirely by first-lien senior secured loans and will have a two-year non-call period and a four-year reinvestment period.

Proceeds from the deal will be used to purchase a portfolio of about $350 million of primarily first-lien senior secured leveraged loans.

Crestline Denali previously priced the $358.84 Denali Capital CLO XII, Ltd./Denali Capital CLO XII LLC transaction on Feb. 25.

The asset management firm is based in Oak Brook, Ill.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.