Fortress plans $26 million second refinancing of Fortress Credit BSL III CLO fixed-rate notes

By Cristal Cody

Tupelo, Miss., Aug. 20 – Fortress Investment Group LLC affiliate FC BSL III CM LLC plans to reprice a fixed-rate tranche of notes from its Fortress Credit BSL III Ltd. transaction in a second partial refinancing, according to a market notice.

The CLO will price $26 million of class B-2-R2 senior secured fixed-rate notes (expected rating AA).

Fortress previously sold $26 million of 4.47% class B-2-R senior secured fixed-rate notes in its first refinancing transaction on April 18, 2018.

In the original CLO deal issued on Oct. 22, 2015, the CLO priced $15 million of 4.12% class B-2 fixed-rate notes.

MUFG is the refinancing placement agent.

The CLO manager is FC BSL III CM LLC.

The notes are due April 18, 2031.

Proceeds will be used to redeem the class B-2 notes on Sept. 3.

Fortress Investment is a New York City-based investment firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.