By Cristal Cody
Eureka Springs, Ark., April 25 – Fortress Investment Group LLC sold $633.6 million of notes in a collateralized loan obligation deal, according to market source.
FDF II Ltd. priced $306 million of class A floating-rate notes at Libor plus 429 basis points; $76.5 million of class B floating-rate notes at Libor plus 529 bps; $32.1 million of class C floating-rate notes at Libor plus 629 bps; $24.3 million of class D floating-rate notes at Libor plus 770 bps and $194.7 million of subordinated notes.
Goldman Sachs & Co. arranged the offering.
FDF II CM LLC will manage the transaction.
New York City-based Fortress Investment Group priced three CLOs and one CDO deal, as well as refinanced two vintage 2012 CLOs, in 2015.
| Issuer: | FDF II Ltd.
|
| Amount: | $633.6 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co.
|
| Manager: | FDF II CM LLC
|
| Pricing date: | April 15
|
|
|
| Class A notes
|
| Amount: | $306 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 429 bps
|
| Expected rating: | Moody’s: Aaa
|
|
|
| Class B notes
|
| Amount: | $76.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 529 bps
|
| Expected rating: | Moody’s: Aa2
|
|
|
| Class C notes
|
| Amount: | $32.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 629 bps
|
| Expected rating: | Moody’s: A2
|
|
|
| Class D notes
|
| Amount: | $24.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 770 bps
|
| Expected rating: | Moody’s: Baa2
|
|
|
| Equity
|
| Amount: | $194.7 million
|
| Securities: | Subordinated notes
|
| Expected rating: | Non-rated
|
© 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.
