By Cristal Cody
Eureka Springs, Ark., May 24 – DFG Investment Advisors, Inc. priced a $406 million broadly syndicated collateralized loan obligation offering in its first CLO deal of 2016, according to a market source.
Vibrant CLO IV, Ltd. sold $236 million of class A-1 floating-rate notes at Libor plus 165 basis points; $24 million of class A-2 floating-rate loans at Libor plus 210 bps; $42 million of class B floating-rate notes at Libor plus 240 bps; $21.6 million of class C floating-rate notes at Libor plus 330 bps; $22.4 million of class D floating-rate notes at Libor plus 450 bps; $20 million of class E floating-rate notes at Libor plus 675 bps and $40 million of subordinated notes.
Goldman Sachs & Co. arranged the deal.
DFG Investment Advisors will manage the CLO.
The New York-based asset management firm priced one new CLO offering and refinanced a vintage 2013 CLO deal in 2015.
| Issuer: | Vibrant CLO IV, Ltd.
|
| Amount: | $406 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co.
|
| Manager: | DFG Investment Advisors, Inc.
|
| Pricing date: | May 13
|
|
|
| Class A-1 notes
|
| Amount: | $236 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Moody’s: Aaa expected
|
|
|
| Class A-2 notes
|
| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | Moody’s: Aaa expected
|
|
|
| Class B notes
|
| Amount: | $42 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C notes
|
| Amount: | $21.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 330 bps
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class D notes
|
| Amount: | $22.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 450 bps
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 675 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Equity
|
| Amount: | $40 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.
