New York, April 1 – ICG Debt Advisors LLC sold a $578.25 million collateralized loan obligation due April 23, 2034, its second CLO transaction of the year, according to reports.
The notes are being issued by ICG US CLO 2021-2 Ltd./ICG US CLO 2021-2 LLC.
The portfolio is made of up $352 million of class A senior secured floating-rate notes at Libor plus 113 basis points, $61 million of class B-1 senior secured floating-rate notes at Libor plus 153 bps, $5 million of class B-2 senior secured notes at 2.84%, $31,625,000 of class C senior secured deferrable floating-rate notes at Libor plus 190 bps, $63.25 million of class D senior secured deferrable notes at 2.25%, $22,275,000 of class E senior secured deferrable notes at 5% and $42 million of subordinated notes.
Morgan Stanley was the placement agent.
The notes can be called starting April 23, 2023. The reinvestment period ends on April 23, 2026.
ICG Debt Advisors will manage the portfolio.
Collateral is primarily senior secured loans, cash and eligible investments with some second lien loans, unsecured loans and bonds.
The firm is a subsidiary of London-based parent company Intermediate Capital Group plc.
| Issuers: | ICG US CLO 2021-2 Ltd./ICG US CLO 2021-2 LLC
|
| Amount: | $578.25 million
|
| Maturity: | April 23, 2034
|
| Securities: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley
|
| Manager: | ICG Debt Advisors LLC
|
| Call: | April 23, 2023
|
| Settlement date: | March 30
|
|
|
| Class A notes
|
| Amount: | $352 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | $61 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 153 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | $5 million
|
| Securities: | Senior secured notes
|
| Coupon: | 2.84%
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C notes
|
| Amount: | $31,625,000
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class D notes
|
| Amount: | $63.25 million
|
| Securities: | Senior secured deferrable notes
|
| Coupon: | 2.25%
|
|
|
| Class E notes
|
| Amount: | $23,375,000
|
| Securities: | Senior secured deferrable notes
|
| Coupon: | 5%
|
|
|
| Subordinated notes
|
| Amount: | $42 million
|
| Securities: | Subordinated notes
|
|
|
|
|
© 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.
