By Cristal Cody
Eureka Springs, Ark., Aug. 16 – 3i Debt Management U.S. LLC sold $407.55 million of notes due Oct. 20, 2028 in the Jamestown CLO IX, Ltd./Jamestown CLO IX Corp. collateralized loan obligation transaction, a market source said.
The CLO priced $150 million of class A-1A floating-rate notes at Libor plus 157 basis points; $110 million of class A-1B floating-rate notes at Libor plus 150 bps; $41.6 million of class A-2 floating-rate notes at Libor plus 200 bps; $19.2 million of class B floating-rate notes at Libor plus 270 bps; $12 million class C-1 floating-rate notes at Libor plus 385 bps; $15.1 million of class C-2 floating-rate notes at Libor plus 470 bps; $20.1 million of class D floating-rate notes at Libor plus 665 bps and $39.55 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
3i Debt Management is the CLO manager.
The CLO has a two-year non-call period and a four-year reinvestment period.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
Proceeds will be used to purchase a portfolio of about $400 million of mostly senior secured leveraged loans.
3i Debt Management is a New York City-based investment manager.
| Issuer: | Jamestown CLO IX, Ltd./Jamestown CLO IX Corp.
|
| Amount: | $407.55 million
|
| Maturity: | Oct. 20, 2028
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | 3i Debt Management U.S. LLC
|
| Call feature: | Two years
|
| Distribution: | Rule 144A
|
|
|
| Class A-1A notes
|
| Amount: | $150 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 157 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-1B notes
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| Amount: | $110 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $41.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | Non-rated
|
|
|
| Class B notes
|
| Amount: | $19.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 270 bps
|
| Rating: | Non-rated
|
|
|
| Class C-1 notes
|
| Amount: | $12 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 385 bps
|
| Rating: | Non-rated
|
|
|
| Class C-2 notes
|
| Amount: | $15.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 470 bps
|
| Rating: | Non-rated
|
|
|
| Class D notes
|
| Amount: | $20.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 665 bps
|
| Rating: | Non-rated
|
|
|
| Equity
|
| Amount: | $39.55 million
|
| Securities: | Subordinated notes
|
| Rating: | Non-rated
|
|
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