By Cristal Cody
Tupelo, Miss., July 3 – Alcentra NY, LLC priced $509 million of notes due July 21, 2031 in a new collateralized loan obligation deal, according to a market source.
Shackleton 2018-XII CLO, Ltd./Shackleton 2018-XII CLO LLC sold $320 million of class A senior floating-rate notes at Libor plus 107 basis points; $60 million of class B senior floating-rate notes at Libor plus 165 bps; $25.5 million of class C mezzanine deferrable floating-rate notes at Libor plus 190 bps; $30.25 million of class D mezzanine deferrable floating-rate notes at Libor plus 315 bps; $24.25 million of class E junior deferrable floating-rate notes at Libor plus 590 bps and $49 million of subordinated notes.
BNP Paribas Securities Corp. was the placement agent.
Alcentra will manage the CLO.
The CLO has a two-year non-call period and a five-year reinvestment period.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
Alcentra has priced one new CLO and refinanced one vintage CLO year to date.
In 2017, Alcentra sold two new CLOs and refinanced three vintage CLOs.
The New York-based firm is part of BNY Alcentra Group Holdings, Inc.
| Issuer: | Shackleton 2018-XII CLO, Ltd./ Shackleton 2018-XII CLO LLC
|
| Amount: | $509 million
|
| Maturity: | July 21, 2031
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Alcentra NY, LLC
|
| Call feature: | Two years
|
| Pricing date: | June 15
|
| Settlement date: | July 11
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 107 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C notes
|
| Amount: | $25.5 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class D notes
|
| Amount: | $30.25 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class E notes
|
| Amount: | $24.25 million
|
| Securities: | Junior deferrable floating-rate notes
|
| Coupon: | Libor plus 590 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Equity
|
| Amount: | $49 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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