Valcour Capital Management preps $259.95 million CLO offering

By Cristal Cody

Tupelo, Miss., Oct. 22 - Valcour Capital Management LLC plans to price $259.95 million of notes due Dec. 29, 2023 in a collateralized loan obligation deal, according to a market source.

The Crown Point CLO II, Ltd./Crown Point CLO II, LLC deal includes $157.8 million of class A-1L senior secured floating-rate notes (Aaa//); $20.8 million of class A-2L senior secured floating-rate notes; $19.8 million of class A-3L senior secured deferrable floating-rate notes; $18.2 million of class B-1L senior secured deferrable floating-rate notes; $10.9 million of class B-2L senior secured deferrable floating-rate notes; $6.8 million of class B-3L senior secured deferrable floating-rate notes and $25.65 million of subordinated notes.

RBS Securities Inc. is the underwriter.

Valcour Capital Management will manage the CLO, which is backed primarily by first-lien senior secured corporate loans and cash.

The CLO has a non-call period expected to end in January 2016 and a reinvestment period scheduled to end in December 2016.

The deal is expected to close on Nov. 11.

Valcour Capital Management is a Stamford, Conn.-based investment firm.

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