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Antares Capital markets $1 billion of notes in new middle-market CLO
By Cristal Cody
Tupelo, Miss., Aug. 17 – Antares Capital Advisers LLC plans to price $1,008,170,000 of notes due Oct. 20, 2030 in the Antares CLO 2018-2, Ltd./Antares CLO 2018-2, LLC middle-market collateralized loan obligation transaction, according to a market source.
The deal includes $575 million of class A-1 floating-rate notes (/AAA/AAA); $20 million of class A-2 floating-rate notes (/non-rated/AAA); $95 million of class B floating-rate notes (/AA/); $75 million of class C deferrable floating-rate notes (/A/); $65 million of class D deferrable floating-rate notes (/BBB-/); $55 million of class E deferrable floating-rate notes (/BB-/) and $123.17 million of subordinated notes.
Deutsche Bank Securities Inc. is the placement agent.
Antares will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
The notes are backed primarily by middle-market senior secured term loans.
The deal is expected to close on Oct. 5.
Antares Capital previously was in the primary market this year with the $707.1 million Antares CLO 2018-1, Ltd./Antares CLO 2018-1, LLC middle-market offering on April 4.
Antares Capital priced two middle-market CLOs in 2017.
The Chicago-based investment management firm is an affiliate of Antares Holding LP.
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