Chicago, June 10 – Cerberus Business Finance, LLC sold $502.7 million in a collateralized loan obligation issued by Cerberus Loan Funding XXXVII, LP, according to press release.
The notes will mature on April 17, 2034.
The CLO consists of $218.8 million of class A-1 senior secured floating-rate notes, $50 million of class A-2 4.02% senior secured fixed-rate notes, $40 million of class B senior secured floating-rate notes, $55 million of class C secured deferrable floating-rate notes, $15 million of class D secured deferrable floating-rate notes and $123.9 million of limited partnership units.
Cerberus Business Finance, LLC will manage the collateral through the end of the four-year reinvestment period.
Collateral for the notes consists of middle-market loans.
The series at the top of the transaction is listed on Euronext Dublin.
Natixis Securities Americas LLC was the placement agent.
The private equity firm is based in New York.
| Issuer: | Cerberus Loan Funding XXXVII, LP
|
| Issue: | Floating-rate notes, fixed-rate notes and limited partnership interests
|
| Amount: | $502.7 million
|
| Maturity: | April 17, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | Cerberus Business Finance, LLC
|
| Settlement date: | April 22
|
|
|
| Class A-1 notes
|
| Amount: | $218.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $50 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.02%
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
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| Amount: | $40 million
|
| Securities: | Senior secured floating-rate notes
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
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| Amount: | $55 million
|
| Securities: | Secured deferrable floating-rate notes
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| Rating: | Moody's: A3
|
|
|
| Class D notes
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| Amount: | $15 million
|
| Securities: | Secured deferrable floating-rate notes
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| Rating: | Moody's: Baa3
|
|
|
| Limited partnership units
|
| Amount: | $123.9 million
|
| Securities: | Limited partnership units
|
|
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