By Cristal Cody
Tupelo, Miss., Feb. 7 – Alcentra NY, LLC priced $435 million of notes due April 20, 2029 in a refinancing of a vintage 2017 collateralized loan obligation deal, according to market sources.
Shackleton 2017-X CLO, Ltd./Shackleton 2017-X CLO LLC sold $320 million of class A-R senior floating-rate notes at Libor plus 104 basis points; $60 million of class B-R senior floating-rate notes at Libor plus 155 bps; $30 million of class C-R mezzanine deferrable floating-rate notes at Libor plus 205 bps and $25 million of class D-R mezzanine deferrable floating-rate notes at Libor plus 330 bps.
Nomura Securities International, Inc. was the refinancing placement agent.
The CLO was originally issued on March 29, 2017.
Proceeds were used to redeem the original notes.
The CLO is collateralized mainly by broadly syndicated first-lien senior secured loans.
The New York-based firm is part of BNY Alcentra Group Holdings, Inc.
| Issuer: | Shackleton 2017-X CLO, Ltd./Shackleton 2017-X CLO LLC
|
| Amount: | $435 million refinancing
|
| Maturity: | April 20, 2029
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Nomura Securities International, Inc.
|
| Manager: | Alcentra NY, LLC
|
| Settlement date: | Feb. 7
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-R notes
|
| Amount: | $320 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 104 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | $60 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C-R notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class D-R notes
|
| Amount: | $25 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 330 bps
|
| Rating: | Moody’s: Baa3
|
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