Highbridge Loan Management 2013-2 preps $412.75 million CLO offering

By Cristal Cody

Tupelo, Miss., Aug. 2 - Highbridge Principal Strategies, LLC plans to sell $412.75 million of notes due September 2024 in its second collateralized loan obligation, according to additional details released on Friday.

The Highbridge Loan Management 2013-2, Ltd./Highbridge Loan Management 2013-2 LLC deal will include $260 million of class A-1 senior secured floating-rate notes (Aaa); $43 million of class A-2 senior secured floating-rate notes; $22.5 million of class B-1 senior secured deferrable floating-rate notes; $9.5 million of class B-2 senior secured deferrable fixed-rate notes; $19.5 million of class C senior secured deferrable floating-rate notes; $16 million of class D senior secured deferrable floating-rate notes; $8 million of class E senior secured deferrable floating-rate notes and $34.25 million of subordinated notes.

Citigroup Global Markets Inc. is the underwriter.

Highbridge Principal Strategies will manage the CLO, which is backed by broadly syndicated corporate loans.

The notes have a two-year non-callable period and a four-year reinvestment period.

The deal is expected to close in September.

The New York-based investment management firm brought its first CLO, the $313 million Highbridge Loan Management 2012-1 Ltd. offering, in September 2012.

© 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.