By Cristal Cody
Tupelo, Miss., Sept. 22 – ArrowMark Colorado Holdings LLC sold $12.88 million of notes due July 15, 2031 in a partial refinancing of a 2018 broadly syndicated collateralized loan obligation offering, according to market sources.
Elevation CLO 2018-9, Ltd./Elevation CLO 2018-9 LLC priced $12.88 million of class A-2-R senior secured fixed-rate notes with a 1.97% coupon.
The CLO originally issued $12.88 million of 4.04% class A-2 fixed-rate notes on Aug. 8, 2018.
Goldman Sachs & Co. LLC was the refinancing agent.
Proceeds were used to redeem the original notes.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The investment management firm is based in Denver.
| Issuer: | Elevation CLO 2018-9, Ltd./Elevation CLO 2018-9 LLC
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| Amount: | $12.88 million refinancing
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| Maturity: | July 15, 2031
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| Securities: | Class A-2-R senior secured fixed-rate notes
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| Structure: | Cash flow CLO
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| Refinancing agent: | Goldman Sachs & Co. LLC
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| Manager: | ArrowMark Colorado Holdings LLC
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| Coupon: | 1.98%
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 22
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| Ratings: | Moody’s: Aaa
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