By Cristal Cody
Eureka Springs, Oct. 28 – Alcentra NY LLC sold $412.5 million of notes due Jan. 15, 2029 in a new broadly syndicated collateralized loan obligation deal, according to a market source.
Shackleton 2016-IX CLO, Ltd. priced $2 million of class X floating-rate notes at Libor plus 100 basis points; $254 million of class A floating-rate notes at Libor plus 150 bps; $50 million of class B floating-rate notes at Libor plus 190 bps; $24 million of class C floating-rate notes at Libor plus 250 bps; $20 million of class D floating-rate note at Libor plus 374 bps; $20 million of class E floating-rate notes at Libor plus 676 bps and $42.5 million of subordinated notes.
Morgan Stanley & Co. LLC was the placement agent.
Alcentra will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
Alcentra has priced one new CLO and refinanced one vintage CLO year to date.
The CLO manager priced two new CLOs in 2015.
The New York-based firm is part of BNY Alcentra Group Holdings, Inc.
| Issuer: | Shackleton 2016-IX CLO, Ltd.
|
| Amount: | $412.5 million
|
| Maturity: | Jan. 15, 2029
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Alcentra NY LLC
|
| Call feature: | Two years
|
| Pricing date: | Oct. 14
|
| Settlement date: | Nov. 10
|
|
|
| Class X notes
|
| Amount: | $2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $254 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $20 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 374 bps
|
| Rating: | S&P: BBB
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 676 bps
|
| Rating: | S&P: BB
|
|
|
| Equity
|
| Amount: | $42.5 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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