Chicago, April 8 – LCM Asset Management LLC is refinancing one classes of notes from the collateralized loan obligation with LCM XV LP/LCM XV LLC listed as co-issuers.
The $387 million of class A-R2 notes are due July 22, 2030.
The floating-rate notes will bear interest at Libor plus 100 basis points.
With the refinancing, Moody’s upgraded the class B-R notes in the portfolio to Aa1 from Aa2, although those notes were not refinanced.
LCM Asset Management will continue to manage the assets of the portfolio through the end of the reinvestment period.
Collateral for the notes is based in broadly syndicated senior secured corporate loans.
The notes were issued in 2014 with a reset in 2017.
The manager is a New York City-based asset management firm.
| Issuers: | LCM XV LP/LCM XV LLC
|
| Issue: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | $387 million
|
| Maturity: | July 22, 2030
|
| Manager: | LCM Asset Management LLC
|
| Announcement date: | April 6
|
|
|
| Class A notes
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| Amount: | $387 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Ratings: | Moody's: Aaa
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