Chicago, Feb. 1 – LCM Asset Management LLC sold $409.05 million in a collateralized loan obligation being issued by LCM 36 Ltd., according to multiple notices.
The notes will mature on Jan. 16, 2034.
The CLO consists of $240 million of class A-1 senior floating-rate notes at Libor plus 115 basis points, $20 million of class A-2 senior floating-rate notes at Libor plus 140 bps, $44 million of class B senior floating-rate notes at Libor plus 165 bps, $24 million of class C deferrable mezzanine floating-rate notes at Libor plus 210 bps, $24 million of class D deferrable mezzanine floating-rate notes at Libor plus 340 bps, $16 million of class E deferrable mezzanine floating-rate notes at Libor plus 671 bps and $41.05 million of subordinated notes.
LCM Asset Management LLC will manage the collateral through the end of the five-year reinvestment period.
The notes are almost entirely backed by first-lien senior secured loans.
Natixis Securities Americas LLC was the placement agent.
The New York City-based asset management firm is a subsidiary of Tetragon Financial Group Ltd.
Issuer: | LCM 36 Ltd.
|
Issue: | Floating-rate notes and subordinated notes
|
Amount: | $409.05 million
|
Maturity: | Jan. 16, 2034
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Structure: | Cash flow CLO
|
Placement agent: | Natixis Securities Americas LLC
|
Manager: | LCM Asset Management LLC
|
Settlement date: | Dec. 23
|
|
Class A-1 notes
|
Amount: | $240 million
|
Securities: | Senior floating-rate notes
|
Coupon: | Libor plus 115 bps
|
Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
Class A-2 notes
|
Amount: | $20 million
|
Securities: | Senior floating-rate notes
|
Coupon: | Libor plus 140 bps
|
Rating: | Moody's: Aaa
|
|
Class B notes
|
Amount: | $44 million
|
Securities: | Senior floating-rate notes
|
Coupon: | Libor plus 165 bps
|
Rating: | Moody's: Aa2
|
|
Class C notes
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Amount: | $24 million
|
Securities: | Deferrable Mezzanine floating-rate notes
|
Coupon: | Libor plus 210 bps
|
Rating: | Moody's: A2
|
|
Class D notes
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Amount: | $24 million
|
Securities: | Deferrable Mezzanine floating-rate notes
|
Coupon: | Libor plus 340 bps
|
Rating: | Moody's: Baa3
|
|
Class E notes
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Amount: | $16 million
|
Securities: | Deferrable Mezzanine floating-rate notes
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Coupon: | Libor plus 671 bps
|
Rating: | Moody's: Ba3
|
|
Subordinated notes
|
Amount: | $41.05 million
|
Securities: | Subordinated notes
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