Chicago, April 19 – Seix Investment Advisors LLC refinanced for $396.5 million the collateralized loan obligation issued by Mountain View CLO XVI Ltd./Mountain View CLO XVI LLC , according to a presale report.
The notes will mature on April 15, 2034.
The CLO consists of $3 million of class X senior secured floating-rate notes at SOFR plus 105 basis points, $246 million of class A-1R senior secured floating-rate notes at SOFR plus 146 bps, $14 million of class A-2R senior secured floating-rate notes at SOFR plus 180 bps, $44 million of class B-R senior secured floating-rate notes at SOFR plus 220 bps, $24 million of class C-R senior secured deferrable floating-rate notes at SOFR plus 280 bps, $24 million of class D-R senior secured deferrable floating-rate notes at SOFR plus 419 bps, $14 million of class E-R senior secured deferrable floating-rate notes at SOFR plus 733 bps and $27.5 million of subordinated notes.
Seix Investment Advisors will manage the collateral through the end of the reinvestment period on April 15, 2026.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 15, 2025.
Morgan Stanley & Co. LLC was the placement agent.
The original CLO from November 2022 had $180 million of class A senior secured floating-rate notes at SOFR plus 250 bps, $48 million of class B senior secured floating-rate notes at SOFR plus 360 bps, $11.1 million of class C-1 senior secured deferrable floating-rate notes at SOFR plus 525 bps, $5.4 million of class C-2 9.17% senior secured deferrable fixed-rate notes, $15.75 million of class D senior secured deferrable floating-rate notes at SOFR plus 627 bps, $9 million of class E senior secured deferrable floating-rate notes at SOFR plus 908 bps and $27.5 million of subordinated notes.
The investment management company and affiliated manager of Virtus Investment Partners is based in Park Ridge, N.J.
| Issuer: | Mountain View CLO XVI Ltd./Mountain View CLO XVI LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $396.5 million
|
| Maturity: | April 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | Seix Investment Advisors LLC
|
| Call feature: | Oct. 15, 2025
|
| Pricing date: | April 12
|
| Settlement date: | April 15
|
|
|
| Class X notes
|
| Amount: | $3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 105 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1R notes
|
| Amount: | $246 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 146 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2R notes
|
| Amount: | $14 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 280 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 419 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 733 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $27.5 million
|
| Securities: | Subordinated notes
|
|
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