Chicago, Oct. 29 – Apex Credit Partners LLC refinanced for $312.64 million three classes of notes from the collateralized loan obligation issued by Apex Credit CLO 2018-II Ltd./Apex Credit CLO 2018-II LLC, according to a supplemental indenture.
The notes will mature on October 2031.
The entire $407.844 million CLO, including the non-refinanced notes, consist of $258.24 million of class A-R senior secured floating-rate notes at Libor plus 114 basis points, $46 million of class B-R senior secured floating-rate notes at Libor plus 185 bps, $11.6 million of class C-1 senior secured deferrable floating-rate notes at Libor plus 240 bps, $8.4 million of class C-2-R senior secured deferrable floating-rate notes at Libor plus 260 bps, $22 million of class D senior secured deferrable floating-rate notes at Libor plus 340 bps, $20 million of class E senior secured deferrable floating-rate notes at Libor plus 653 bps, $8 million of class F senior secured deferrable floating-rate notes at Libor plus 898 bps and $33.6 million of subordinated notes.
It was only the class A-R, B-R and C-2-R that were part of the refinancing. The rest of the CLO is original.
The refinanced notes can be called starting June 20, 2022.
Jefferies LLC was the refinancing placement agent.
The New York City-based commercial finance firm is co-owned by Jefferies Group LLC and Massachusetts Mutual Life Insurance Co.
| Issuer: | Apex Credit CLO 2018-II Ltd./Apex Credit CLO 2018-II LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $312,644,263
|
| Maturity: | October 2031
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Apex Credit Partners LLC
|
| Call feature: | June 20, 2022
|
| Settlement date: | June 30
|
|
|
| Class A-R notes
|
| Amount: | $258.244263 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 114 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R notes
|
| Amount: | $46 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 185 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C-1 notes
|
| Amount: | $11.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | Moody's: A2
|
|
|
| Class C-2-R notes
|
| Amount: | $8.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 653 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
|
| Amount: | $8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 898 bps
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $33.6 million
|
| Securities: | Subordinated notes
|
|
|
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