Hildene Leveraged Credit to price Hildene CLO IV offering

By Rebecca Melvin

New York, July 1 – Hildene Leveraged Credit LLC plans to price a new arbitrage cash flow collateralized loan obligation, including a $206.5 million tranche of class A-1A notes and a $17.5 million tranche of class A-1B notes at the top of the deal structure, according to a market source.

Proceeds of the Hildene CLO IV Ltd./Hildene CLO IV LLC offering will be used to purchase a portfolio of about $350 million of primarily senior secured leveraged loans.

Hildene Leveraged Credit will manage the CLO, which is made up of secured and subordinated notes. The CLO has a four-year reinvestment period.

Hildene Leveraged Credit was last in the primary market in November with its $361 million Hildene CLO III, Ltd./Hildene CLO III LLC deal.

The firm, part of Hildene Capital Management, LLC, an asset management firm based in Stamford, Conn., priced the $413.75 million Hildene CLO II, Ltd./Hildene CLO II LLC in May 2014 and the $309.75 million Hildene CLO I Ltd./Hildene CLO I LLC transaction in December 2013.

© 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.