Loomis Sayles in pipeline with $413.75 million CLO II offering in first CLO deal since 2006

By Cristal Cody

Tupelo, Miss., Aug. 3 – Loomis, Sayles & Co., LP intends to bring a $413.75 million Rule 144A-eligible collateralized loan obligation deal, according to a market source.

The Loomis Sayles CLO II, Ltd./Loomis Sayles CLO II, LLC transaction includes $254 million of class A-1 floating-rate notes (//AAA); $50.4 million of class A-2 floating-rate notes; $18.5 million of class B floating-rate notes; $25.1 million of class C floating-rate notes; $20 million of class D floating-rate notes and $45.75 million of preferred shares.

J.P. Morgan Securities LLC is the placement agent.

Loomis, Sayles & Co. will manage the CLO.

The CLO has a two-year non-call period and a four-year reinvestment period.

The notes are due in 2027.

The transaction is backed mainly by first-lien senior secured corporate loans.

The CLO will use the proceeds from the deal to purchase a portfolio of about $400 million of leveraged loans.

Loomis, Sayles & Co. was last in the CLO primary market in 2006 with the Loomis Sayles CLO I, Ltd. transaction.

The investment management firm is based in Boston.

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