By Cristal Cody
Eureka Springs, Oct. 28 – Alcentra NY LLC sold $412.5 million of notes due Jan. 15, 2029 in a new broadly syndicated collateralized loan obligation deal, according to a market source.
Shackleton 2016-IX CLO, Ltd. priced $2 million of class X floating-rate notes at Libor plus 100 basis points; $254 million of class A floating-rate notes at Libor plus 150 bps; $50 million of class B floating-rate notes at Libor plus 190 bps; $24 million of class C floating-rate notes at Libor plus 250 bps; $20 million of class D floating-rate note at Libor plus 374 bps; $20 million of class E floating-rate notes at Libor plus 676 bps and $42.5 million of subordinated notes.
Morgan Stanley & Co. LLC was the placement agent.
Alcentra will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
Alcentra has priced one new CLO and refinanced one vintage CLO year to date.
The CLO manager priced two new CLOs in 2015.
The New York-based firm is part of BNY Alcentra Group Holdings, Inc.
Issuer: | Shackleton 2016-IX CLO, Ltd.
|
Amount: | $412.5 million
|
Maturity: | Jan. 15, 2029
|
Securities: | Floating-rate and subordinated notes
|
Structure: | Cash flow CLO
|
Placement agent: | Morgan Stanley & Co. LLC
|
Manager: | Alcentra NY LLC
|
Call feature: | Two years
|
Pricing date: | Oct. 14
|
Settlement date: | Nov. 10
|
|
Class X notes
|
Amount: | $2 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 100 bps
|
Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
Class A notes
|
Amount: | $254 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 150 bps
|
Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
Class B notes
|
Amount: | $50 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 190 bps
|
Rating: | S&P: AA
|
|
Class C notes
|
Amount: | $24 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 250 bps
|
Rating: | S&P: A
|
|
Class D notes
|
Amount: | $20 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 374 bps
|
Rating: | S&P: BBB
|
|
Class E notes
|
Amount: | $20 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 676 bps
|
Rating: | S&P: BB
|
|
Equity
|
Amount: | $42.5 million
|
Securities: | Subordinated notes
|
Ratings: | Non-rated
|
© 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.