By Cristal Cody
Tupelo, Miss., Oct. 1 – Sculptor Loan Management LP priced $20 million of notes in two parts in a refinancing of a fixed-rate tranche from a 2017 collateralized loan obligation transaction, according to market sources.
OZLM XVII, Ltd./OZLM XVII, LLC sold $6,315,789 of 2.38% class A-2b-a-R senior secured fixed-rate notes (expected rating Aa2).
The CLO also priced $13,684,211 of class A-2b-b-R senior secured floating-rate notes (expected rating Aa2) at Libor plus 205 basis points.
In the original $512 million transaction issued Aug. 3, 2017, the CLO sold $20 million of 3.75% class A-2b senior secured fixed-rate notes.
Goldman Sachs & Co. LLC was the refinancing agent.
Sculptor Loan Management, formerly known as Och-Ziff Loan Management LP, is the CLO manager.
The notes are due July 22, 2030.
Proceeds will be used to redeem the class A-2b notes.
The CLO is collateralized primarily by broadly syndicated first-lien senior secured corporate loans.
The New York-based firm is part of Sculptor Capital Management, Inc.
| Issuer: | OZLM XVII, Ltd./OZLM XVII, LLC
|
| Amount: | $20 million refinancing
|
| Maturity: | July 22, 2030
|
| Securities: | Senior secured fixed- and floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Goldman Sachs & Co. LLC
|
| Manager: | Sculptor Loan Management LP
|
| Pricing date: | Sept. 22
|
| Settlement date: | Oct. 5
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-2b-a-R notes
|
| Amount: | $6,315,789
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.38%
|
| Ratings: | Moody’s: Aa2 expected
|
|
|
| Class A-2b-b-R notes
|
| Amount: | $13,684,211
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Ratings: | Moody’s: Aa2 expected
|
|
|
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