By Cristal Cody
Tupelo, Miss., April 4 – Kayne Anderson Capital Advisors, LP priced a $302.55 million broadly syndicated collateralized loan obligation transaction, according to market sources.
The Kayne CLO 4 Ltd./Kayne CLO 4 LLC vehicle sold $192 million of class A loans at Libor plus 147 basis points, $21.95 million of class B-1 floating-rate notes at Libor plus 210 bps and $10 million of 4.6% class B-2 fixed-rate notes.
The CLO also sold $13.95 million of class C floating-rate notes at Libor plus 280 bps, $17.7 million of class D floating-rate notes at Libor plus 385 bps, $16.95 million of class E floating-rate notes at Libor plus 675 bps and $30 million of subordinated notes.
Goldman Sachs & Co. LLC was the placement agent.
Kayne Anderson Capital Advisors is the CLO manager.
The notes are due April 25, 2032, and the CLO has a two-year non-call period and a five-year reinvestment period.
The deal is backed entirely by broadly syndicated first lien senior secured corporate loans.
Kayne Anderson Capital Advisors is an alternative asset management firm based in Los Angeles.
| Issuer: | Kayne CLO 4 Ltd./Kayne CLO 4 LLC
|
| Amount: | $302.55 million
|
| Maturity: | April 25, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | Kayne Anderson Capital Advisors, LP
|
| Call feature: | Two years
|
| Pricing date: | March 22
|
| Settlement date: | April 25
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class A loans
|
| Amount: | $192 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 147 bps
|
| Ratings: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $21.95 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Ratings: | Non-rated
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 4.6%
|
| Ratings: | Non-rated
|
|
|
| Class C notes
|
| Amount: | $13.95 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 280 bps
|
| Ratings: | Non-rated
|
|
|
| Class D notes
|
| Amount: | $17.7 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 385 bps
|
| Ratings: | Non-rated
|
|
|
| Class E notes
|
| Amount: | $16.95 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 675 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $30 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
|
© 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.
