By Cristal Cody
Tupelo, Miss., March 8 – Jefferies Finance LLC priced $259.3 million of notes at par in the JFIN Revolver CLO 2019 Ltd./JFIN Revolver CLO 2019 LLC transaction, according to market sources.
The CLO sold $187.5 million of class A floating-rate notes at Libor plus 150 basis points, $25 million of class B floating-rate notes at Libor plus 400 bps and $46.8 million of subordinated notes.
Jefferies LLC was the placement agent.
The issue has a one-year non-call period and a one-year reinvestment period.
The notes are secured primarily by revolver and delayed-drawdown loans.
Jefferies Finance is a New York City-based commercial finance firm co-owned by Jefferies Group LLC and Massachusetts Mutual Life Insurance Co.
| Issuer: | JFIN Revolver CLO 2019 Ltd./JFIN Revolver CLO 2019 LLC
|
| Amount: | $259.3 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Jefferies Finance LLC
|
| Call feature: | One year
|
| Pricing date: | Feb. 28
|
|
|
| Class A notes
|
| Amount: | $187.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Price: | Par
|
| Ratings: | Non-rated
|
|
|
| Class B notes
|
| Amount: | $25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 400 bps
|
| Price: | Par
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $46.8 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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