Greywolf Capital readies $437.35 million Greywolf CLO IV offering

By Cristal Cody

Tupelo, Miss., Nov. 7 – Greywolf Capital Management LP plans to price $437.35 million of floating-rate and subordinated notes due 2026 in a collateralized loan obligation offering, according to a market source.

The Greywolf CLO IV, Ltd./Greywolf CLO IV, LLC offering includes $269.18 million of class A-1 floating-rate notes (//AAA); $54.24 million of class A-2 floating-rate notes (/AA/); $31.78 of class B deferrable floating-rate notes (/A/); $21 of class C deferrable floating-rate notes (/BBB/); $16.4 million of class D deferrable floating-rate notes (/BB/); $10.2 million of class E secured deferrable floating-rate notes (/B/) and $34.55 million of subordinated notes.

J.P. Morgan Securities LLC is the placement agent.

Greywolf Capital Management will manage the CLO.

The CLO has a two-year non-call period and a four-year reinvestment period.

The offering is backed by a revolving pool of broadly syndicated senior secured loans.

Greywolf Capital Management was last in the primary market in March with the $640.99 million Greywolf CLO III, Ltd./Greywolf CLO III, LLC transaction.

The Purchase, N.Y.-based investment management firm priced its first post-financial crisis CLO deal in March 2013.

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