Jefferies Finance preps $409.5 million JFIN CLO 2015-II offering

By Cristal Cody

Tupelo, Miss., Sept. 22 – Jefferies Finance LLC plans to price $409.5 million of notes due Oct. 17, 2026 in a collateralized loan obligation deal, according to a market source.

The JFIN CLO 2015-II Ltd./JFIN CLO 2015-II LLC transaction is expected to offer $2.5 million of class A-X amortizing senior secured floating-rate notes (Aaa/AAA/), $245 million of class A-1 senior secured floating-rate notes (Aaa/AAA), $30 million of class B-1 senior secured floating-rate notes (Aa2) and $25 million of class B-2 senior secured fixed-rate notes (Aa2).

The deal also includes $25 million of class C secured deferrable floating-rate notes (A2), $23 million of class D secured deferrable floating-rate notes (Baa3), $20 million of class E secured deferrable floating-rate notes (Ba3) and $39 million of subordinated notes.

Jefferies LLC is the placement agent.

Apex Credit Partners LL, a subsidiary of Jefferies Finance, will manage the CLO.

The CLO is non-callable until Oct. 17, 2017, and the reinvestment period ends Oct. 17, 2019.

The offering is backed primarily by broadly syndicated senior secured loans.

Jefferies Finance has priced two CLOs year to date.

The New York City-based commercial finance firm is co-owned by Jefferies Group LLC and Massachusetts Mutual Life Insurance Co.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.