Chicago, Feb. 23 – Ballyrock Investment Advisors LLC refinanced $368 million of notes from the Ballyrock CLO 2019-2 Ltd. collateralized loan obligation offering, according to a notice.
The refinanced notes, due Nov. 20, 2030, include $240 million of class A-1a-R senior secured floating-rate notes at Libor plus 100 basis points, $20 million of class A-1b-R senior secured floating-rate notes at Libor plus 120 bps, $44 million of class A-2-R senior secured deferrable floating-rate notes at Libor plus 140 bps, $24 million of class B-R senior secured deferrable floating-rate notes at Libor plus 190 bps, $22 million of class C-R senior secured deferrable floating-rate notes at Libor plus 315 bps and $18 million of class D-R secured deferrable floating-rate notes at Libor plus 650 bps.
The $33.1 million of subordinated notes from the original Nov. 25, 2019 transaction will remain outstanding.
Ballyrock will continue to manage the portfolio, which is collateralized mostly by syndicated senior secured corporate loans.
The investment management firm is based in Boston.
| Issuer: | Ballyrock CLO 2019-2 Ltd.
|
| Amount: | $368 million
|
| Maturity: | Nov. 20, 2030
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Manager: | Ballyrock Investment Advisors LLC
|
| Announcement date: | Feb. 22
|
|
|
| Class A-1a-R notes
|
| Amount: | $240 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-1b-R notes
|
| Amount: | $20 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | Moody's: NR
|
|
|
| Class A-2-R notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Libor plus 190 bps
|
| Rating: | Moody's: A2
|
|
|
| Class C-R notes
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| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
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| Coupon: | Libor plus 315 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class D-R notes
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| Amount: | $18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 650 bps
|
| Rating: | Moody's: Ba3
|
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