Seix Investment Advisors to refinance Mountain View 2016-1 CLO notes

By Cristal Cody

Tupelo, Miss., Jan. 13 – Seix Investment Advisors LLC intends to refinance notes from a collateralized loan obligation deal priced in 2016, according to a notice of proposed supplemental indenture on Friday.

The Mountain View CLO 2016-1, Ltd./Mountain View CLO 2016-1, Corp. deal includes class X-R senior floating-rate notes; class A-R senior floating-rate notes; class B-R senior floating-rate notes; class C-R mezzanine deferrable floating-rate notes; class D-R mezzanine deferrable floating-rate notes, class E-R junior deferrable floating-rate notes and class F-R junior deferrable floating-rate notes.

Mizuho Securities (USA) LLC is the refinancing placement agent.

Seix Investment Advisors will continue to manage the CLO.

The maturity will be extended to January 2033 from Jan. 14, 2029.

The reset CLO will have a two-year non-call period and a five-year reinvestment period.

In the original transaction priced Nov. 7, 2016 and issued Dec. 8, 2016, the CLO sold $309 million of notes.

The CLO had priced $1.5 million of class X floating-rate notes at Libor plus 125 basis points; $193.5 million of class A floating-rate notes at Libor plus 160 bps; $34.5 million of class B floating-rate notes at Libor plus 220 bps; $18 million of class B floating-rate notes at Libor plus 285 bps; $18 million of class C floating-rate notes at Libor plus 285 bps; $15 million of class D floating-rate notes at Libor plus 400 bps; $15 million of class E floating-rate notes at Libor plus 700 bps and $31.5 million of subordinated notes.

Proceeds will be used to redeem the outstanding notes.

The investment management company and affiliated manager of Virtus Investment Partners is based in Park Ridge, N.J.

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