By Cristal Cody
Tupelo, Miss., Dec. 12 – Alcentra NY, LLC sold $403.75 million of notes due Jan. 15, 2030 in the manager’s second dollar-denominated collateralized loan obligation deal of the year, according to a market source.
Shackleton 2019-XV CLO, Ltd./Shackleton 2019-XV CLO LLC priced $256 million of class A floating-rate notes at par to yield Libor plus 125 basis points and $42 million of class B floating-rate notes at par to yield Libor plus 200 bps.
The CLO sold $30 million of class C deferrable floating-rate notes at par to yield Libor plus 280 bps, $20 million of class D deferrable floating-rate notes at 99 and a coupon of Libor plus 392 bps, $18 million of class E deferrable floating-rate notes at 96.45 and a coupon of Libor plus 745 bps and $37.75 million of subordinated notes.
Barclays was the placement agent.
The CLO has a one-year non-call period and a two-year reinvestment period.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The New York-based firm is part of BNY Alcentra Group Holdings, Inc.
| Issuer: | Shackleton 2019-XV CLO, Ltd./Shackleton 2019-XV CLO LLC
|
| Amount: | $403.75 million
|
| Maturity: | Jan. 15, 2030
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Alcentra NY, LLC
|
| Call feature: | One year
|
| Pricing date: | Nov. 15
|
| Settlement date: | Dec. 19
|
|
|
| Class A notes
|
| Amount: | $256 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Price: | Par
|
| Ratings: | S&P: AAA
|
| Fitch: AAA expected
|
|
|
| Class B notes
|
| Amount: | $42 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 280 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $20 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 392 bps
|
| Price: | 99
|
| Rating: | S&P: BBB
|
|
|
| Class E notes
|
| Amount: | $18 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 745 bps
|
| Price: | 96.45
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $37.75 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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