3i Debt Management to offer $411 million notes in Jamestown CLO V deal

By Cristal Cody

Tupelo, Miss., Nov. 10 – 3i Debt Management U.S. LLC plans to price $411 million of notes due Jan. 17, 2027 in a collateralized loan obligation offering, according to a market source.

The Jamestown CLO V Ltd./Jamestown CLO V Corp. offering includes $256 million of class A floating-rate notes (//AAA); $28 million of class B-1 floating-rate notes; $24 million of class B-2 fixed-rate notes; $19 million of class C floating-rate notes; $21 million of class D floating-rate notes; $20 million of class E floating-rate notes; $8 million of class F floating-rate notes and $35 million of subordinated notes.

BofA Merrill Lynch is the placement agent.

3i Debt Management will manage the CLO.

The transaction is collateralized primarily by first-lien senior secured loans.

The CLO has a two-year non-call period and a four-year reinvestment period.

Proceeds from the deal will be used to purchase a portfolio of about $400 million of primarily senior secured leveraged loans.

3i Debt Management priced the $617.4 million Jamestown CLO IV Ltd./Jamestown CLO IV Corp. deal on May 28.

The firm, a subsidiary of London-based 3i Group plc, was last in the primary market in November 2013 with the $515.9 million Jamestown CLO III Ltd. deal.

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