By Cristal Cody
Tupelo, Miss., May 12 – LCM Asset Management LLC refinanced $443.25 million of notes due Oct. 19, 2022 in the vintage 2012 LCM XII LP/LCM XII LLC collateralized loan obligation deal, according to a market source.
The CLO priced $321.25 million of class A-R floating-rate notes at Libor plus 126 basis points; $62.5 million of class B-R floating-rate notes at Libor plus 170 bps; $35.75 million of class C-R floating-rate notes at Libor plus 265 bps and $23.75 million of class D-R floating-rate notes at Libor plus 370 bps.
BNP Paribas Securities Corp. was the refinancing agent.
LCM Asset Management LLC is the CLO manager.
The CLO is backed primarily by broadly syndicated senior secured corporate loans.
LCM previously priced the $609.63 million LCM XVIII LP/LCM XVIII LLC CLO deal on Feb. 19.
The New York City-based asset management firm brought three CLO deals in 2014.
| Issuer: | LCM XII LP/LCM XII LLC
|
| Amount: | $443.25 million refinancing
|
| Maturity: | Oct. 19, 2022
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | BNP Paribas Securities Corp.
|
| Manager: | LCM Asset Management LLC
|
| Pricing date: | May 5
|
|
|
| Class A-R notes
|
| Amount: | $321.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 126 bps
|
| Ratings: | Standard & Poor’s: AAA
|
| Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | $62.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Standard & Poor’s: AA
|
|
|
| Class C-R notes
|
| Amount: | $35.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 265 bps
|
| Rating: | Standard & Poor’s: A
|
|
|
| Class D-R notes
|
| Amount: | $23.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Rating: | Standard & Poor’s: BBB
|
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