By Cristal Cody
Eureka Springs, Ark., July 18 – Carlyle Investment Management LLC refinanced $155 million of notes due Aug. 18, 2026 in one tranche from a vintage 2014 collateralized loan obligation deal, according to a market source.
Carlyle Global Market Strategies CLO 2014-3, Ltd./Carlyle Global Market Strategies CLO 2014-3 LLC priced the class A-1B-R senior secured notes at Libor plus 145 basis points.
The original class of A-1B notes priced at Libor plus 133.5 bps.
Citigroup Global Markets Inc. was the refinancing agent.
The remaining tranches in the deal were not refinanced. Carlyle originally sold $815.8 million of notes in the transaction on July 29, 2014.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
Carlyle Investment Management has refinanced tranches from two vintage CLOs and priced two new U.S. CLO deals year to date.
The asset management firm, an affiliate of the Washington, D.C.-based Carlyle Group, placed five U.S. broadly syndicated CLO transactions and one middle-market CLO offering in 2015.
| Issuer: | Carlyle Global Market Strategies CLO 2014-3, Ltd./Carlyle Global Market Strategies CLO 2014-3 LLC
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| Securities: | Class A-1B-R senior secured floating-rate notes
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| Amount: | $155 million
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| Maturity: | Aug. 18, 2026
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| Coupon: | Libor plus 145 bps
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| Structure: | Cash flow CLO
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| Refinancing agent: | Citigroup Global Markets Inc.
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| Manager: | Carlyle Investment Management LLC
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| Pricing date: | July 7
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| Expected ratings: | Moody’s: Aaa
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| Fitch: AAA
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