By Cristal Cody
Tupelo, Miss., Feb. 21 - Figueroa CLO 2013-1, Ltd. and Figueroa CLO 2013-1, LLC sold $400 million of floating-rate notes due March 21, 2024 in six tranches, according to market sources.
The collateralized loan obligation offering included $249 million of class A-1 notes (Aaa/AAA/) priced to yield Libor plus 125 basis points; $43 million of class A-2 notes (/AA/) priced at Libor plus 205 bps; $20 million of class B notes (/A/) priced at Libor plus 275 bps; $19 million of class C notes (/BBB/) priced at Libor plus 365 bps; $25 million of class D notes (/BB/) priced at Libor plus 480 bps; and $44 million of subordinated notes.
Natixis Securities Americas LLC was the placement agent.
The deal is backed by a revolving pool of broadly syndicated senior secured loans.
TCW Asset Management Co. is the manager.
| Issuer: | Figueroa CLO 2013-1, Ltd./Figueroa CLO 2013-1, LLC
|
| Amount: | $400 million
|
| Maturity: | March 21, 2024
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Placement agent: Natixis Securities Americas LLC
|
| Manager: | TCW Asset Management Co.
|
| Settlement date: | March 21
|
|
|
| Class A-1
|
| Amount: | $249 million
|
| Coupon: | Libor plus 125 bps
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
|
|
| Class A-2
|
| Amount: | $43 million
|
| Coupon: | Libor plus 205 bps
|
| Ratings: | Standard & Poor's: AA
|
|
|
| Class B
|
| Amount: | $20 million
|
| Coupon: | Libor plus 275 bps
|
| Ratings: | Standard & Poor's: A
|
|
|
| Class C
|
| Amount: | $19 million
|
| Coupon: | Libor plus 365 bps
|
| Ratings: | Standard & Poor's: BBB
|
|
|
| Class D
|
| Amount: | $25 million
|
| Coupon: | Libor plus 480 bps
|
| Ratings: | Standard & Poor's: BB
|
|
|
| Subordinated tranche
|
| Amount: | $44 million
|
| Ratings: | Not rated
|
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