By Cristal Cody
Tupelo, Miss., Sept. 11 – Buckhead One Financial Opportunities, LLC priced $104.25 million of notes due Jan. 25, 2029 in a partial refinancing of the BNFS 2017-1/BNFS 2017-1 LLC static collateralized debt obligation transaction, according to a market source.
The CDO sold $104.25 million of 3.25% class A-R senior secured fixed-to-floating rate notes due Jan. 25, 2029 (Aa2).
Nomura Securities International, Inc. was the refinancing agent.
The CDO was originally issued on Jan. 11, 2018.
That offering included $2 million of class X senior secured floating-rate notes, $104.3 million of class A senior secured floating-rate notes, $3.3 million of class B deferrable mezzanine secured fixed-to-floating rate notes, $13.3 million of class C deferrable mezzanine secured fixed-to-floating rate notes, $9.5 million of class D deferrable subordinated secured fixed-to-floating rate notes and $22.9 million of preferred shares.
Buckhead announced plans to refinance the notes on March 13.
The CDO is collateralized by a portfolio of debt from U.S. community banks.
Proceeds were used to redeem the original class A notes.
Buckhead One Financial Opportunities is an Atlanta-based asset management firm.
| Issuer: | BNFS 2017-1/BNFS 2017-1 LLC
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| Amount: | $104.25 million refinancing
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| Maturity: | Jan. 25, 2029
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| Securities: | Senior secured fixed-to-floating rate notes
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| Structure: | Static cash flow CDO
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| Refinancing agent: | Nomura Securities International, Inc.
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| Manager: | Buckhead One Financial Opportunities, LLC
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| Coupon: | 3.25%
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| Settlement date: | Sept. 10
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| Ratings: | Moody’s: Aa2
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