By Cristal Cody
Tupelo, Miss., Sept. 25 – Guggenheim Partners Investment Management LLC sold $500 million of notes due 2026 in a collateralized loan obligation transaction, according to a market source on Friday.
Guggenheim Private Debt Fund Note Issuer 2.0, LLC priced $90 million of non-rated series 1 leverage notes at Libor plus 250 basis points; $149 million of class A floating-rate notes at Libor plus 275 bps; $50 million of class B floating-rate notes at Libor plus 312.5 bps; $45 million of 3% class C fixed-rate notes; $21 million of 3% class D fixed-rate notes and $145 million of LLC interests.
Guggenheim will manage the CLO.
The CLO will invest in a portfolio of broadly syndicated loans and middle-market private debt investments.
Guggenheim Partners Investment Management plans to raise about $2 billion of commitments from investors to fund the transaction, according to Fitch Ratings. The commitments will be drawn upon at seven funding dates during the investment period.
Guggenheim Partners Investment Management has priced four CLO deals over the year.
The investment management firm is based in New York and Chicago.
| Issuer: | Guggenheim Private Debt Fund Note Issuer 2.0, LLC
|
| Amount: | $500 million
|
| Maturity: | 2026
|
| Securities: | Fixed-rate and floating-rate notes and interests
|
| Structure: | Cash flow CLO
|
| Manager: | Guggenheim Partners Investment Management LLC
|
| Pricing date: | Sept. 25
|
|
|
| Series 1 leverage tranche
|
| Amount: | $90 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Ratings: | Non-rated
|
|
|
| Class A notes
|
| Amount: | $149 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 275 bps
|
| Rating: | Fitch: A-
|
|
|
| Class B notes
|
| Amount: | $50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 312.5 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class C notes
|
| Amount: | $45 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3%
|
| Rating: | Fitch: BB
|
|
|
| Class D notes
|
| Amount: | $21 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3%
|
| Rating: | Fitch: B
|
|
|
| Equity
|
| Amount: | $145 million
|
| Securities: | LLC interests
|
| Ratings: | Non-rated
|
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