Chicago, Nov. 2 – Seix Investment Advisors priced $296.75 million in a collateralized loan obligation being issued by Mountain View CLO XVI Ltd./Mountain View CLO XVI LLC, according to a presale report.
The notes will mature on Oct. 15, 2032.
The CLO consists of $180 million of class A senior secured floating-rate notes at SOFR plus 250 basis points, $48 million of class B senior secured floating-rate notes at SOFR plus 360 bps, $11.1 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 525 bps, $5.4 million of class C-2 9.17% senior secured deferrable fixed-rate notes, $15.75 million of class D senior secured deferrable floating-rate notes at SOFR plus 627 bps, $9 million of class E senior secured deferrable floating-rate notes at SOFR plus 908 bps and $27.5 million of subordinated notes.
Seix Investment Advisors will manage the collateral through the end of the reinvestment period on Oct. 15, 2024.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 15, 2023.
SG Americas Securities LLC was the placement agent.
The investment management company and affiliated manager of Virtus Investment Partners is based in Park Ridge, N.J.
Issuer: | Mountain View CLO XVI Ltd./Mountain View CLO XVI LLC
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $296.75 million
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Maturity: | Oct. 15, 2032
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Structure: | Cash flow CLO
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Placement agent: | SG Americas Securities LLC
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Manager: | Seix Investment Advisors
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Call feature: | Oct. 15, 2023
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Settlement date: | Nov. 4
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Class A notes
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Amount: | $180 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 250 bps
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Rating: | S&P: AAA
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Class B notes
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Amount: | $48 million
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Securities: | Senior secured floating-rate notes
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Coupon: | SOFR plus 360 bps
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Rating: | S&P: AA
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Class C-1 notes
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Amount: | $11.1 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 525 bps
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Rating: | S&P: A
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Class C-2 notes
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Amount: | $5.4 million
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Securities: | Senior secured deferrable fixed-rate notes
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Coupon: | 9.17%
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Rating: | S&P: A
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Class D notes
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Amount: | $15.75 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 627 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $9 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | SOFR plus 908 bps
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Rating: | S&P: BB-
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Subordinated notes
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Amount: | $27.5 million
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Securities: | Subordinated notes
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