By Cristal Cody
Tupelo, Miss., June 17 – Middle-market lender Cerberus Capital Management, LP priced a $145 million short-dated collateralized loan obligation, according to an informed source.
Cerberus AUS Levered II LP sold $35 million of class A-R loans (Aaa//) at Libor plus 250 basis points, $30 million of class A-T loans (Aaa//) at Libor plus 200 bps and $80 million of limited partnership interests.
The loans are due June 17, 2022 and have a five-year weighted average life.
Natixis Securities Americas LLC was the underwriter.
Cerberus affiliate CAL II GP, LLC will manage the CLO.
The CLO is backed primarily by middle market first-lien senior secured loans and eligible investments.
The non-call and reinvestment periods are scheduled to end in December 2015.
Cerberus Capital Management is a New York City-based investment firm.
| Issuer: | Cerberus AUS Levered II LP
|
| Amount: | $145 million
|
| Maturity: | June 17, 2022
|
| Securities: | Loans and limited partnership interests
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | CAL II GP, LLC
|
| Call feature: | December 2015
|
| Pricing date: | June 9
|
|
|
| Class A-R loan
|
| Amount: | $35 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 250 bps
|
| Ratings: | Moody’s: Aaa
|
|
|
| Class A-T loan
|
| Amount: | $30 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 200 bps
|
| Ratings: | Moody’s: Aaa
|
|
|
| Equity tranche
|
| Amount: | $80 million
|
| Securities: | Limited partnership interests
|
| Ratings: | Non-rated
|
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