Chicago, Jan. 20 – Nuveen Asset Management, LLC repriced five classes of notes from a vintage Symphony CLO XX, Ltd./Symphony CLO XX LLC collateralized loan obligation deal for $112.5 million, according to a market source.
The issuing vehicle sold $23 million of class A-2a-R 1.65% senior secured fixed-rate notes, $2 million of class A-2b-R senior secured floating-rate notes at Libor plus 118 basis points, $42 million class B-R senior secured floating-rate notes at Libor plus 165 bps, $20.75 million class C-R mezzanine secured deferrable floating-rate notes at Libor plus 235 bps and $24.75 million class D-R mezzanine secured deferrable floating-rate notes at Libor plus 375 bps.
There is still a $20.5 million class E mezzanine secured deferrable floating-rate tranche that was not part of the transaction.
The notes are still due Jan. 16, 2032.
Nuveen is the collateral manager and will continue to manage the assets during the remaining reinvestment period.
Nuveen Asset Management, subsidiary of Nuveen, is an investment management company based in Chicago.
| Issuer: | Symphony CLO XX, Ltd./Symphony CLO XX LLC
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| Amount: | $622.5 million
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
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| Structure: | Cash flow CLO
|
| Manager: | Nuveen Asset Management, LLC
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| Announcement date: | Jan. 19
|
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| Class A-2a-R notes
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| Amount: | $23 million
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| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.65%
|
| Ratings: | Moody’s: Aaa
|
|
|
| Class A-2b-R notes
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| Amount: | $2 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 118 bps
|
| Ratings: | Moody’s: Aaa
|
|
|
| Class B-R notes
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| Amount: | $42 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | Libor plus 165 bps
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| Rating: | Moody’s: Aa2
|
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|
| Class C-R notes
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| Amount: | $20.75 million
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| Securities: | Mezzanine secured deferrable floating-rate notes
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| Coupon: | Libor plus 235 bps
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| Rating: | Moody’s: A2
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| Class D-R notes
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| Amount: | $24.75 million
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| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 375 bps
|
| Rating: | Moody’s: Baa3
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