By Cristal Cody
Tupelo, Miss., Dec. 17 – Kayne Anderson Capital Advisors, LP closed Monday on a new $401 million broadly syndicated collateralized loan obligation transaction, according to market sources.
Kayne CLO 6 Ltd./Kayne CLO 6 LLC sold $248 million of class A-1 senior secured floating-rate notes at Libor plus 138 basis points, $12 million of class A-2 senior secured floating-rate notes at Libor plus 185 bps, $30.5 million of class B-1 senior secured floating-rate notes at Libor plus 215 bps and $5 million of 3.78% class B-2 senior secured fixed-rate notes.
Lower down the structure, the CLO sold $22.5 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 290 bps, $23.5 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 400 bps, $22.5 million of class E junior secured deferrable floating-rate notes at Libor plus 753 bps and $37 million of subordinated notes.
GreensLedge Capital Markets LLC was the placement agent.
The notes have a Jan. 20, 2033 maturity.
The CLO is backed mainly by broadly syndicated first-lien senior secured corporate loans.
Kayne Anderson Capital has priced three new CLOs year to date.
The alternative asset management firm is based in Los Angeles.
| Issuer: | Kayne CLO 6 Ltd./Kayne CLO 6 LLC
|
| Amount: | $401 million
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Maturity: | Jan. 20, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | GreensLedge Capital Markets LLC
|
| Manager: | Kayne Anderson Capital Advisors, LP
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 16
|
|
|
| Class A-1 notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 138 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $30.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | $5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.78%
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C notes
|
| Amount: | $22.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 290 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class D notes
|
| Amount: | $23.5 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 400 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class E notes
|
| Amount: | $22.5 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 753 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Equity
|
| Amount: | $37 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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