By Cristal Cody
Tupelo, Miss., March 31 – Guggenheim Partners Investment Management LLC sold $558.9 million of notes due April 15, 2027 in a collateralized loan obligation deal, according to a market source.
Kitty Hawk CLO 2015-1 LLC/Kitty Hawk CLO 2015-1 Ltd. priced $331 million of class A-1 senior secured floating-rate notes at Libor plus 151 basis points; $60 million of class A-2 senior secured floating-rate notes at Libor plus 230 bps; $46 million of class B mezzanine secured deferrable floating-rate notes at Libor plus 310 bps; $32 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 355 bps; $37 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 500 bps and $52.9 million of income notes.
MUFG arranged the offering.
Guggenheim will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
The notes are collateralized mainly by broadly syndicated first-lien senior secured loans.
Guggenheim brought one new CLO deal and reopened a vintage 2012 CLO in 2014.
The investment management firm is based in New York and Chicago.
| Issuer: | Kitty Hawk CLO 2015-1 LLC/Kitty Hawk CLO 2015-1 Ltd.
|
| Amount: | $558.9 million
|
| Maturity: | April 15, 2027
|
| Securities: | Floating-rate and income notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | MUFG
|
| Manager: | Guggenheim Partners Investment Management LLC
|
| Call feature: | 2017
|
| Pricing date: | March 26
|
| Settlement date: | April 15
|
|
|
| Class A-1 notes
|
| Amount: | $331 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 151 bps
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Rating: | Moody’s: Aa1
|
|
|
| Class B notes
|
| Amount: | $46 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 355 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class D notes
|
| Amount: | $37 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 500 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Equity
|
| Amount: | $52.9 million
|
| Securities: | Income notes
|
| Ratings: | Non-rated
|
© 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.
