Chicago, March 15 – Apex Credit Holdings LLC refinanced for $328 million the collateralized loan obligation issued by Apex Credit CLO 2019-II Ltd., according to multiple releases.
The notes will mature on Oct. 25, 2032.
The refinanced classes consist of $63.7 million of class A-1-R floating-rate loans at SOFR plus 115 basis points, $184.3 million of class A-1-R senior secured floating-rate notes at SOFR plus 115 bps, $16 million of class A-2-R senior secured floating-rate notes at SOFR plus 145 bps, $42 million of class B-R senior secured floating-rate notes at SOFR plus 180 bps and $22 million of class C-R senior secured floating-rate notes at SOFR plus 250 bps. Apex Credit Holdings LLC will manage the collateral through the end of the remaining reinvestment period.
Collateral for the notes consists of broadly syndicated senior secured term loans.
Jefferies LLC was the placement agent.
The New York City-based commercial finance firm is co-owned by Jefferies Group LLC and Massachusetts Mutual Life Insurance Co.
| Issuer: | Apex Credit CLO 2019-II Ltd.
|
| Issue: | Floating-rate loans and floating-rate notes
|
| Amount: | $328 million
|
| Maturity: | Oct. 25, 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Apex Credit Holdings LLC
|
| Settlement date: | Dec. 16, 2021
|
|
|
| Class A-1-R loans
|
| Amount: | $63.7 million
|
| Securities: | Floating-rate loans
|
| Coupon: | SOFR plus 115 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A-1-R notes
|
| Amount: | $184.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 115 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A-2-R notes
|
| Amount: | $16 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 145 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $42 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $22 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: A
|
|
|
© 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.
