BlueMountain Capital Management plans about $378 million of notes in CLO offering

By Rebecca Melvin

New York, Dec. 3 - BlueMountain Capital Management LLC plans to sell about $378 million of notes due April 2025 in its fourth collateralized loan obligation offering of 2013, according to an informed source.

The CLO will be sold via BlueMountain CLO 2013-4 Ltd./BlueMountain CLO 2013-4 LLC.

The deal includes $250.3 million of class A notes (/AAA/); $44 million of class B notes (/AA/); $34.5 million of class C deferrable notes (/A/); $20.4 million of class D deferrable notes (/BBB/); $16.9 million of class E deferrable notes (/BB/); $11.9 million of class F deferrable notes (/B/); and $31.8 million of subordinated notes.

Most recently, BlueMountain sold $413.35 million of notes in a CLO deal priced in early October. The $255.25 million of class A senior secured floating-rate notes (Aaa/AAA/) priced at a spread of Libor plus 140 basis points.

J.P. Morgan Securities LLC is the placement agent of the new deal.

BlueMountain Capital Management will manage the CLO.

The CLO securitization is backed by a $399 million broadly syndicated loan portfolio.

BlueMountain Capital Management is a private investment company with offices in New York and London.

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