Alcentra to sell $413.85 million Shackleton 2013-IV CLO

By Cristal Cody

Tupelo, Miss., Nov. 5 - Alcentra NY LLC plans to price $413.85 million of notes due December 2024 in the Shackleton 2013-IV CLO Ltd/Shackleton 2013-IV CLO LLC transaction, according to an informed source.

The deal includes $250.1 million of class A senior secured floating-rate notes (Aaa/AAA/); $46.4 million of class B senior secured floating-rate notes (/AA/); $33.4 million of class C mezzanine secured deferrable floating-rate notes (/A/); $20.3 million of class D mezzanine secured deferrable floating-rate notes (/BBB/); $17.1 million of class E junior secured deferrable floating-rate notes (/BB/); $10.7 million of class F junior secured deferrable floating-rate notes (/B/) and $35.85 million of subordinated notes.

J.P. Morgan Securities LLC is the placement agent.

The CLO, collateralized by a revolving pool of broadly syndicated senior secured loans, has a two-year non-call period and a four-year reinvestment period.

Alcentra NY, a sub-investment-grade debt manager and subsidiary of the Bank of New York Mellon Corp., will manage the CLO.

The deal is expected to close in December.

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