Chicago, Jan. 7 – Crescent Capital Group LP sold $410.35 million in a collateralized loan obligation being issued by Atlas Senior Loan Fund XVIII Ltd./Atlas Senior Loan Fund XVIII LLC, according to a pre-sale report.
The notes will mature on Jan. 18, 2035.
The CLO consists of $4 million of class X senior secured floating-rate notes at Libor plus 85 basis points, $248 million of class A-1 senior secured floating-rate notes at Libor plus 118 bps, $12 million of class A-2 senior secured floating-rate notes at Libor plus 140 bps, $44 million of class B senior secured floating-rate notes at Libor plus 185 bps, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 240 bps, $22 million of class D senior secured deferrable floating-rate notes at Libor plus 367 bps, $18 million of class E senior secured deferrable floating-rate notes at Libor plus 716 bps and $38.35 million of subordinated notes.
Crescent Capital Group LP will manage the collateral through the end of the reinvestment period on Jan. 18, 2027.
The collateral pool will be comprised of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Jan. 18, 2024.
Jefferies LLC was the placement agent.
Crescent Capital is an alternative asset management firm is based in Los Angeles.
The transaction is the third for the manager in 2021.
| Issuer: | Atlas Senior Loan Fund XVIII Ltd./Atlas Senior Loan Fund XVIII LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $410.35 million
|
| Maturity: | Jan. 18, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Crescent Capital Group LP
|
| Call feature: | Jan. 18, 2024
|
| Settlement date: | Dec. 15
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 85 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 118 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | S&P: NR
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 367 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 716 bps
|
| Rating: | S&P: NR
|
|
|
| Subordinated notes
|
| Amount: | $38.35 million
|
| Securities: | Subordinated notes
|
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