Chicago, Nov. 22 – Crescent Capital Group LP sold $404.91 million in a collateralized loan obligation issued by Atlas Senior Loan Fund XVII Ltd./Atlas Senior Loan Fund XVII LLC, according to a pre-sale report.
The notes will mature on Oct. 20, 2034.
The CLO consists of $252 million of class A senior secured floating-rate notes at Libor plus 120 basis points, $26.38 million of class B-1 senior secured floating-rate notes at Libor plus 175 bps, $25.63 million of class B-2 2.93% senior secured fixed-rate notes, $24 million of class C senior secured deferrable floating-rate notes at Libor plus 235 bps, $24 million of class D senior secured deferrable floating-rate notes at Libor plus 375 bps, $16 million of class E senior secured deferrable floating-rate notes at Libor plus 758 bps and $36.9 million of subordinated notes.
Crescent Capital Group LP will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
The notes are collateralized by senior secured loans, cash and eligible investment with most borrowers based in the United States.
The notes can be called starting Oct. 20, 2023.
Citigroup Global Markets Inc. was the placement agent.
Crescent Capital is an alternative asset management firm is based in Los Angeles.
Issuer: | Atlas Senior Loan Fund XVII Ltd./Atlas Senior Loan Fund XVII LLC
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Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
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Amount: | $404.91 million
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Maturity: | Oct. 20, 2034
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Structure: | Cash flow CLO
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Placement agent: | Citigroup Global Markets Inc.
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Manager: | Crescent Capital Group LP
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Call feature: | Oct. 20, 2023
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Settlement date: | Oct. 15
|
|
Class A notes
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Amount: | $252 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 120 bps
|
Rating: | S&P: AAA
|
|
Class B-1 notes
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Amount: | $26.38 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 175 bps
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Rating: | S&P: AA
|
|
Class B-2 notes
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Amount: | $25.63 million
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Securities: | Senior secured fixed-rate notes
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Coupon: | 2.93%
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Rating: | S&P: AA
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Class C notes
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Amount: | $24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 235 bps
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Rating: | S&P: A
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Class D notes
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Amount: | $24 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 375 bps
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Rating: | S&P: BBB-
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Class E notes
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Amount: | $16 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 758 bps
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Rating: | S&P: BB-
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|
Subordinated notes
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Amount: | $36.9 million
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Securities: | Subordinated notes
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