Chicago, April 13 – ZAIS Leveraged Loan Master Manager, LLC sold $409.4 million of notes in a collateralized loan obligation issued by ZAIS CLO 18, Ltd., according to a press release.
The notes will mature on Jan. 25, 2035.
The CLO consists of $215 million of class A-1-A senior secured floating-rate notes, $25 million of class A-1-F 2.8% senior secured fixed-rate notes, $16 million of class A-J senior secured floating-rate notes, $48 million of class B senior secured floating-rate notes, $20 million of class C deferrable mezzanine floating-rate notes, $19 million of class D-1 deferrable mezzanine floating-rate notes, $5 million of class D-F 6.5% deferrable mezzanine fixed-rate notes, $16 million of class E deferrable mezzanine floating-rate notes and $45.4 million of subordinated notes.
ZAIS Leveraged Loan Master Manager, LLC will manage the collateral through the end of the five-year reinvestment period on five-year.
Collateral for the notes consists of broadly syndicated senior secured corporate loans.
Jefferies LLC was the placement agent.
Zais Group, LLC is a structured credit asset management firm based in Red Bank, N.J.
| Issuer: | ZAIS CLO 18, Ltd.
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $409.4 million
|
| Maturity: | Jan. 25, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | ZAIS Leveraged Loan Master Manager, LLC
|
| Settlement date: | Feb. 17
|
|
|
| Class A-1-A notes
|
| Amount: | $215 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1-F notes
|
| Amount: | $25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.8%
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-J notes
|
| Amount: | $16 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $20 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Rating: | Moody's: A2
|
|
|
| Class D-1 notes
|
| Amount: | $19 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Rating: | Moody's: Baa3
|
|
|
| Class D-F notes
|
| Amount: | $5 million
|
| Securities: | Deferrable mezzanine fixed-rate notes
|
| Coupon: | 6.5%
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
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| Amount: | $16 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $45.4 million
|
| Securities: | Subordinated notes
|
|
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