Jefferies prices $170.5 million CLO, firm’s second deal of year; Battalion CLO VIII closes

By Cristal Cody

Tupelo, Miss., April 9 – Jefferies Finance LLC priced $170.5 million of notes in the firm’s second CLO offering of the year, according to a market source on Thursday.

Jefferies Finance previously tapped the primary market in March. The CLO manager priced four CLO deals in 2014.

In other market activity, Brigade Capital Management, LLC closed on its $504.9 million Battalion CLO VIII Ltd./Battalion CLO VIII LLC deal brought in March, a source said.

The CLO sold $321.4 million of class A-1 senior secured floating-rate notes at Libor plus 153 basis points in the senior tranche.

Citigroup Global Markets Inc. arranged the offering.

Brigade Capital Management, a New York City-based investment advisor firm, priced four CLO deals in 2014.

Jefferies Finance priced $170.5 million of notes due April 22, 2020 in a CLO offering, according to a market source.

JFIN Revolver CLO 2015-II Ltd./JFIN Revolver CLO 2015-II LLC sold $84 million of class A floating-rate notes at Libor plus 115 bps in the senior tranche.

The deal also included a $6 million unfunded tranche of class E deferrable variable funding notes that can be used to pay interest shortfalls on the class C and class D notes and $37 million of subordinated notes as equity.

Jefferies LLC was the placement agent.

Jefferies Finance will manage the CLO.

The CLO is non-callable until April 22, 2016.

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