DFG Investment Advisors firms details for $367.9 million Vibrant CLO II

By Cristal Cody

Tupelo, Miss., Aug. 12 - DFG Investment Advisers, Inc. firmed details for an upcoming $367.9 million collateralized loan obligation offering of fixed-rate, floating-rate and subordinated notes due 2024, according to a market source on Monday.

The Vibrant CLO II Ltd./Vibrant CLO II LLC deal includes $214.8 million of class A-1 floating-rate notes (/AAA/); $35.1 million of class A-2A floating-rate notes (/AA/); $10 million of class A-2B fixed-rate notes (/AA/); $28.9 million of class B deferrable floating-rate notes (/A/); $18.8 million of class C deferrable floating-rate notes (/BBB/); $16.4 million of class D deferrable floating-rate notes (/BB/); $11.4 million of class E deferrable floating-rate notes (/B/); $1 million of class M deferrable floating-rate notes and $31.5 million of subordinated notes.

Deutsche Bank Securities Inc. is the underwriter.

The issue has a two-year non-callable period and a four-year reinvestment period. The CLO is backed by a revolving pool of primarily broadly syndicated senior secured corporate loans.

The deal is expected to close on Sept. 12.

DFG, a New York-based money manager, brought the $317 million Vibrant CLO, Ltd. transaction in December.

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