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Prospect News home > News index > List of issuers Calendar > Headlines for 2014 > News item
Published on 4/30/2014 in the Prospect News CLO Daily.

CLO Calendar: Ares Management offers $360.75 million CLO

Week of April 28

ARES MANAGEMENT LLC: $360.75 million U.S. CLO offering: Los-Angeles-based asset management firm; Deutsche Bank Securities Inc.

• $240 million of class A floating-rate notes (Aaa) with a coupon of Libor plus 85 basis points. To be sold at a discount for a discount margin spread of 110 bps

• $33 million of class B floating-rate notes (Aa2) at a coupon of Libor plus 145 bps

• $17 million of class C floating-rate notes (A2) at Libor plus 220 bps

• $14 million of class D floating-rate notes (Baa3) at Libor plus 285 bps

• $20.5 million of class E floating-rate notes (Ba2) at Libor plus 420 bps

• $36.25 million of non-rated subordinated notes with a residual coupon

On The Horizon

EATON VANCE MANAGEMENT: U.S. CLO offering: Boston-based investment management firm.

JMP GROUP INC.: $350 million-$400 million CLO; JMP Credit Advisors LLC (CLO manager); San Francisco-based investment banking and asset management firm.

MIDOCEAN CREDIT CLO II/MIDOCEAN CREDIT CLO II LLC: $414.75 million of notes due Jan. 29, 2025; Jefferies LLC (placement agent); MidOcean Credit Fund Management LP (CLO manager); affiliate of New York City-based MidOcean Partners.

• $250 million of class A floating-rate notes (/AAA/)

• $56 million of class B floating-rate notes (/AA/)

• $25 million of class C deferrable floating-rate notes (/A/)

• $21 million of class D deferrable floating-rate notes (/BBB/)

• $20 million of class E deferrable floating-rate notes (/BB/)

• $42.75 million of income notes

REDAN PARK ASSET MANAGEMENT LLC: $300 million CLO; C&Co/PrinceRidge LLC (placement agent); asset management firm owned by New York hedge fund Mead Park Holdings LP and Puerto Rico-based Doral Financial Corp.

STEELE CREEK INVESTMENT MANAGEMENT LLC: $350 million to $400 million CLO; BNP Paribas Securities Corp. (placement agent); Charlotte, N.C.-based subsidiary of Moelis & Co. LLC.


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