Chicago, Nov. 2 – 522 Funding CLO 2018-3(A), Ltd. refinanced for $397.25 million the four rate notes from the collateralized loan obligation issued by MS 522 CLO CM LLC, according to a pre-sale report.
The notes will mature on Oct. 20, 2031.
The CLO now contains $296.7 million of class A-R senior secured floating-rate notes at Libor plus 104 basis points, $46.95 million of class B-R senior secured floating-rate notes at Libor plus 155 bps, $23.45 million of class C-R mezzanine secured deferrable floating-rate notes at Libor plus 205 bps, $30.15 million of class D-R mezzanine secured deferrable floating-rate notes at Libor plus 310 bps.
J.P. Morgan Securities LLC was the placement agent.
MS 522 CLO CM LLC is the collateral manager.
The CLO was issued as Assurant CLO III, Ltd.
Morgan Stanley Investment Management is a New York-based capital manager and subsidiary of financial products and services company Morgan Stanley.
| Issuer: | 522 Funding CLO 2018-3(A), Ltd.
|
| Issue: | Floating-rate notes
|
| Amount: | $397.25 million
|
| Maturity: | Oct. 20, 2031
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | MS 522 CLO CM LLC
|
| Settlement date: | June 30
|
|
|
| Class A-R notes
|
| Amount: | $296.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 104 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | $46.95 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Rating: | Moody's: Aa1
|
|
|
| Class C-R notes
|
| Amount: | $23.45 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D-R notes
|
| Amount: | $30.15 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | Moody's: Baa3
|
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