Chicago, March 22 – Steele Creek Investment Management LLC refinanced two classes of notes for $262.5 million from the collateralized loan obligation transaction which lists Steele Creek CLO 2015-1 Ltd./Steele Creek CLO 2015-1, LLC as issuers, according to a notice.
The entire portfolio retains a May 21, 2029 maturity date.
The two refinanced notes are the $222.25 million of class A-R2 senior secured floating-rate notes at Libor plus 90 basis points (originally 160 bps) and the $40.25 million of class B-R2 senior secured floating-rate notes at Libor plus 145 bps (originally 240 bps).
The original transaction also included $22.75 million of class C floating-rate notes at Libor plus 330 bps; $19 million of class D floating-rate notes at Libor plus 400 bps; $16.33 million of class E floating-rate notes at Libor plus 525 bps; $7.55 million of class F floating-rate notes at Libor plus 650 bps and $32.85 million of subordinated notes.
Steele Creek Investment Management will continue to manage the CLO.
Collateral will be a portfolio of broadly syndicated senior secured corporate loans.
The non-call period has been extended as part of the refinancing.
The Charlotte, N.C.-based asset management firm is a subsidiary of global advisory firm Moelis & Co. LLC.
| Issuer: | Steele Creek CLO 2015-1 Ltd./Steele Creek CLO 2015-1, LLC
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| Amount: | $262.5 million
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| Securities: | Floating-rate notes
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| Structure: | Cash flow CLO
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| Manager: | Steele Creek Investment Management LLC
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| Announcement date: | March 19
|
|
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| Class A-R2 notes
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| Amount: | $222.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 90 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-R2 notes
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| Amount: | $40.25 million
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| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 145 bps
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| Rating: | Moody's: Aa1
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