By Cristal Cody
Tupelo, Miss., Oct. 20 – 325 Fillmore LLC sold $7 million of notes due Oct. 25, 2030 in a partial refinancing of a 2018 broadly syndicated collateralized loan obligation offering, according to market sources.
Elevation CLO 2017-8, Ltd./Elevation CLO 2017-8 LLC priced $7 million of 2.19% class A-2-R senior secured fixed-rate notes (expected ratings Aaa).
The CLO originally issued $7 million of 3.57% class A-2 senior secured fixed-rate notes on Jan. 25, 2018.
BofA Securities, Inc. was the refinancing agent.
325 Fillmore will continue to manage the CLO.
Proceeds were used to redeem the original notes.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The investment management firm is based in Denver.
| Issuer: | Elevation CLO 2018-9, Ltd./Elevation CLO 2018-9 LLC
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| Amount: | $7 million refinancing
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| Maturity: | Oct. 25, 2030
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| Securities: | Class A-2-R senior secured fixed-rate notes
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| Structure: | Cash flow CLO
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| Refinancing agent: | BofA Securities, Inc.
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| Manager: | 325 Fillmore LLC
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| Coupon: | 2.19%
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 20
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| Rating: | Moody’s: Aaa expected
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| Distribution: | Rule 144A and Regulation S
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