By Cristal Cody
Tupelo, Miss., Sept. 23 – Fortress Investment Group LLC refinanced $41 million of fixed-rate notes from its vintage 2018 Fortress Credit BSL V Ltd./Fortress Credit BSL V LLC transaction, according to market sources.
The CLO priced $41 million of 2.723% class B-2-R senior secured fixed-rate notes due July 11, 2030 (AA) 123 basis points tighter than the original offering.
Fortress previously issued $41 million of class B-2 senior secured fixed-rate notes on Jan. 11, 2018.
MUFG was the refinancing placement agent.
The CLO manager is FC BSL Management LLC Series V.
Proceeds were used to redeem the class B-2 notes.
Fortress Investment is a New York City-based investment firm.
| Issuer: | Fortress Credit BSL V Ltd./Fortress Credit BSL V LLC
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| Amount: | $41 million refinancing
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| Maturity: | July 11, 2030
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| Securities: | Class B-2-R senior secured fixed-rate notes
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| Structure: | Cash flow CLO
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| Refinancing agent: | MUFG
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| Manager: | FC BSL Management LLC Series V
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| Coupon: | 2.723%
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 22
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| Rating: | S&P: AA
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