E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Add to balance / Manage account  User:  Log out
Prospect News home > News index > List of issuers E > Headlines for Elevation CLO 2015-4 LLC > News item
Published on 5/30/2019 in the Prospect News CLO Daily.

ArrowMark Colorado Holdings plans to refinance vintage Elevation CLO 2015-4 notes

By Cristal Cody

Tupelo, Miss., May 30 – ArrowMark Colorado Holdings LLC plans to refinance notes due April 18, 2027 from a 2015 vintage broadly syndicated collateralized loan obligation offering, according to a notice of proposed third supplemental indenture.

The Elevation CLO 2015-4, Ltd./Elevation CLO 2015-4 LLC transaction will include class A-R senior secured floating-rate notes (AAA expected/AAA expected), class B-R senior secured floating-rate notes (AA expected/), class C-R secured deferrable floating-rate notes (A expected/), class D-R secured deferrable floating-rate notes (BBB expected/) and class E-R secured deferrable floating-rate notes (BB- expected/).

Deutsche Bank Securities Inc. is the refinancing placement agent.

The original $408.1 million CLO was issued as Arrowpoint CLO 2015-4, Ltd./Arrowpoint CLO 2015-4 LLC on April 23, 2015.

In that offering, the CLO priced $252.25 million of class A floating-rate notes at Libor plus 155 basis points; $48.5 million of class B floating-rate notes at Libor plus 243 bps; $28.25 million of class C deferrable floating-rate notes at Libor plus 335 bps; $20.75 million of class D deferrable floating-rate notes at Libor plus 450 bps; $18 million of class E deferrable floating-rate notes at Libor plus 690 bps; $6 million of class F deferrable floating-rate notes at Libor plus 630 bps and $34.35 million of subordinated notes.

Proceeds from the refinancing will be used to redeem the outstanding notes.

The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.

ArrowMark priced two new CLOs and refinanced one vintage CLO in 2018.

The investment management firm is based in Denver.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.