By Cristal Cody
Tupelo, Miss., March 27 - Carlyle Global Market Strategies CLO 2013-2 Ltd./ Carlyle Global Market Strategies CLO 2013-2 LLC sold $623 million of notes due April 18, 2025 in 10 tranches, according to a market source.
The collateralized loan obligation offering included $4.5 million of class X floating-rate notes (/AAA/) priced at Libor plus 100 basis points; $352.5 million of class A-1 floating-rate notes (/AAA/) at Libor plus 115 bps; $35 million of class A-2 floating-rate notes (/AAA/) at Libor plus 115 bps; $67 million of class B floating-rate notes (/AA/) at Libor plus 175 bps; $37 million of class C-1 deferrable floating-rate notes (/A/) at Libor plus 285 bps; $10 million of class C-2 deferrable notes (/A/) at Libor plus 434 bps; $30 million of class D deferrable floating-rate notes (/BBB/) at Libor plus 375 bps; $25 million of class E deferrable floating-rate notes (/BB/) at Libor plus 500 bps; $12 million of class F deferrable floating-rate notes (/B/) at Libor plus 540 bps; and $50 million of non-rated subordinated notes.
Morgan Stanley & Co. arranged the offering.
Carlyle Investment Management LLC will manage the CLO.
Collateral consists of a revolving pool of U.S. dollar-denominated senior secured loans to broadly syndicated corporate borrowers.
Carlyle Global Market Strategies CLO 2013-2 is a managed cash flow CLO.
| Issuer: | Carlyle Global Market Strategies CLO 2013-2 Ltd/Carlyle Global Market Strategies CLO 2013-2 LLC
|
| Amount: | C$542.4 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Maturity: | April 18, 2025
|
| Arranger: | Morgan Stanley & Co.
|
| Manager: | Carlyle Investment Management LLC
|
| Call feature: | April 18, 2015
|
| Settlement date: | March 28
|
|
|
| Class X notes
|
| Amount: | $4.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Rating: | Standard & Poor's: AAA
|
|
|
| Class A-1 notes
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| Amount: | $352.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Standard & Poor's: AAA
|
|
|
| Class A-2 notes
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| Amount: | $35 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Standard & Poor's: AAA
|
|
|
| Class B notes
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| Amount: | $67 million
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| Securities: | Floating-rate notes
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| Coupon: | Libor plus 175 bps
|
| Rating: | Standard & Poor's: AA
|
|
|
| Class C-1 notes
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| Amount: | $37 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 285 bps
|
| Rating: | Standard & Poor's: A
|
|
|
| Class C-2 notes
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| Amount: | $10 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 434 bps
|
| Rating: | Standard & Poor's: A
|
|
|
| Class D notes
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| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 375 bps
|
| Rating: | Standard & Poor's: BBB
|
|
|
| Class E notes
|
| Amount: | $25 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 500 bps
|
| Rating: | Standard & Poor's: BB
|
|
|
| Class F notes
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| Amount: | $12 million
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| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 540 bps
|
| Rating: | Standard & Poor's: B
|
|
|
| Subordinated notes
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| Amount: | $50 million
|
| Securities: | Subordinated notes
|
| Rating: | Non-rated
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