By Cristal Cody
Tupelo, Miss., May 18 – Crescent Capital Group LP sold $386.1 million of notes due Feb. 17, 2026 in a refinancing of the vintage 2014 Atlas Senior Loan Fund IV, Ltd./Atlas Senior Loan Fund IV, LLC transaction, according to a notice of executed second supplemental indenture on Wednesday.
Atlas Senior Loan Fund IV priced $226.8 million of class A-1L-RR senior secured floating-rate notes at Libor plus 68 basis points; $44.7 million of class A-2L-RR senior secured floating-rate notes at Libor plus 130 bps; $44.7 million of class A-3L-RR senior secured deferrable floating-rate notes at Libor plus 170 bps; $32.9 million of class B-1L-RR senior secured deferrable floating-rate notes at Libor plus 260 bps; $23.5 million of class B-2L-R senior secured deferrable floating-rate notes at Libor plus 490 bps and $13.5 million of class B-3L-R senior secured deferrable floating-rate notes at Libor plus 600 bps.
BNPP Securities Corp. was the refinancing placement agent.
The CLO was originally issued Jan. 22, 2014 and partially refinanced Aug. 10, 2017.
Proceeds were used to redeem the original notes.
The transaction is collateralized primarily by broadly syndicated senior secured corporate loans.
Crescent Capital is an alternative asset management firm based in Los Angeles.
| Issuer: | Atlas Senior Loan Fund IV, Ltd./Atlas Senior Loan Fund IV, LLC
|
| Amount: | $386.1 million refinancing
|
| Maturity: | Feb. 17, 2026
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | BNPP Securities Corp.
|
| Manager: | Crescent Capital Group LP
|
| Settlement date: | May 15
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class A-1L-RR notes
|
| Amount: | $226.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 68 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A-2L-RR notes
|
| Amount: | $44.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 130 bps
|
| Rating: | S&P: AA
|
|
|
| Class A-3L-RR notes
|
| Amount: | $44.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: A
|
|
|
| Class B-1L-RR notes
|
| Amount: | $32.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | S&P: BBB
|
|
|
| Class B-2L-R notes
|
| Amount: | $23.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 490 bps
|
| Rating: | S&P: BB-
|
|
|
| Class B-3L-R notes
|
| Amount: | $13.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 600 bps
|
| Rating: | S&P: B
|
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