By Cristal Cody
Tupelo, Miss., Sept. 9 – Crescent Capital Group LP priced $564.12 million of notes in a collateralized loan obligation deal, according to a market source.
Atlas Senior Loan Fund VI Ltd./Atlas Senior Loan Fund VI LLC sold $340.45 million of class A floating-rate notes at Libor plus 154 basis points; $61.6 million of class B floating-rate notes at Libor plus 240 bps; $47.85 million of class C floating-rate notes at Libor plus 300 bps; $28.6 million of class D floating-rate notes at Libor plus 370 bps; $27.5 million of class E floating-rate notes at Libor plus 520 bps and $58.12 million of subordinated notes.
Deutsche Bank Securities Inc. arranged the offering.
Crescent Capital Group will manage the CLO.
Crescent Capital was last in the primary market on May 15 with the $458.6 million Atlas Senior Loan Fund V Ltd./Atlas Senior Loan Fund V LLC deal.
The Los Angeles-based alternative asset management firm priced two CLO transactions in 2013.
| Issuer: | Atlas Senior Loan Fund VI Ltd./Atlas Senior Loan Fund VI LLC
|
| Amount: | $564.12 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Crescent Capital Group LP
|
| Pricing date: | Aug. 28
|
|
|
| Class A notes
|
| Amount: | $340.45 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 154 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Standard & Poor’s: AAA expected
|
|
|
| Class B notes
|
| Amount: | $61.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | Standard & Poor’s: AA expected
|
|
|
| Class C notes
|
| Amount: | $47.85 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | Standard & Poor’s: A expected
|
|
|
| Class D notes
|
| Amount: | $28.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Rating: | Standard & Poor’s: BBB expected
|
|
|
| Class E notes
|
| Amount: | $27.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 520 bps
|
| Rating: | Standard & Poor’s: BB- expected
|
|
|
| Equity tranche
|
| Amount: | $58.12 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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