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Cerberus Capital Management affiliate plans $145 million CLO offering
By Cristal Cody
Tupelo, Miss., June 5 – An affiliate of middle-market lender Cerberus Capital Management, LP plans to price a $145 million collateralized loan obligation offering, according to a market source.
The Cerberus AUS Levered II LP deal includes $35 million of class A-R loans (Aaa//), $30 million of class A-T loans (Aaa//) and $80 million of limited partnership interests.
The loans are due June 2022 and have a five-year weighted average life.
Natixis Securities Americas LLC is the underwriter.
Cerberus affiliate CAL II GP, LLC will manage the CLO.
The CLO portfolio consists primarily of middle-market first lien senior secured loans and eligible investments.
The CLO is non-callable until December 2015. The reinvestment period is scheduled to end in December 2015.
Cerberus Capital Management is a New York City-based investment firm.
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