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Crestline Denali Capital markets $409.6 million of notes in new Denali Capital CLO XVI deal
By Cristal Cody
Tupelo, Miss., Jan. 22 – Crestline Denali Capital, LP plans to price $409.6 million of notes due 2030 in a a new collateralized loan obligation offering, according to a market source.
The Denali Capital CLO XVI, Ltd./Denali Capital CLO XVI LLC deal includes $256 million of class A floating-rate notes (//AAA); $48 million of class B floating-rate notes; $24 million of class C floating-rate notes; $22 million of class D floating-rate notes; $18 million of class E floating-rate notes and $41.6 million of subordinated notes.
BNP Paribas Securities Corp. is the placement agent.
Crestline Denali will manage the CLO.
The CLO has a two-year non-call period and a five-year reinvestment period.
The deal is backed entirely by broadly syndicated first-lien senior secured corporate loans.
Crestline Denali priced one new CLO and refinanced one vintage CLO in 2017.
The Oak Brook, Ill.-based asset management firm priced two CLO deals in 2016.
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