By Cristal Cody
Tupelo, Miss., April 9 – Antares Capital Advisers LLC priced $707.1 million of notes due April 20, 2031 in the Antares CLO 2018-1, Ltd./Antares CLO 2018-1, LLC middle-market collateralized loan obligation, according to an informed source.
The CLO priced $399 million of class A floating-rate notes at Libor plus 125 basis points; $76.5 million of class B floating-rate notes at Libor plus 165 bps; $56.5 million of class C floating-rate notes at Libor plus 235 bps; $46 million of class D floating-rate notes at Libor plus 340 bps; $37.5 million of class E floating-rate notes at Libor plus 745 bps and $91.6 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Antares will manage the CLO.
The CLO has a two-year non-call period and a five-year reinvestment period.
The notes are backed primarily by small-to-middle enterprise senior secured term loans.
Antares Capital priced two middle-market CLOs in 2017.
The Chicago-based investment management firm is an affiliate of Antares Holding LP.
| Issuer: | Antares CLO 2018-1, Ltd./Antares CLO 2018-1, LLC
|
| Amount: | $707.1 million
|
| Maturity: | April 20, 2031
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Middle market CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | Antares Capital Advisers LLC
|
| Call feature: | Two years
|
| Pricing date: | April 4
|
| Settlement date: | May 4
|
|
|
| Class A notes
|
| Amount: | $399 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $76.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $56.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 235 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $46 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $37.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 745 bps
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $91.6 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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