By Cristal Cody
Tupelo, Miss., March 18 – Steele Creek Investment Management LLC priced a $360.98 million collateralized loan obligation transaction, according to a market source.
Steele Creek CLO 2015-1 Ltd./Steele Creek CLO 2015-1, LLC sold $222.25 million of class A floating-rate notes at Libor plus 160 basis points; $40.25 million of class B floating-rate notes at Libor plus 240 bps; $22.75 million of class C floating-rate notes at Libor plus 330 bps; $19 million of class D floating-rate notes at Libor plus 400 bps; $16.33 million of class E floating-rate notes at Libor plus 525 bps; $7.55 million of class F floating-rate notes at Libor plus 650 bps and $32.85 million of subordinated notes.
BNP Paribas Securities Corp. was the placement agent.
Steele Creek Investment Management will manage the CLO.
Steele Creek Investment Management brought one deal in 2014.
The Charlotte, N.C.-based asset management firm is a subsidiary of global advisory firm Moelis & Co. LLC.
| Issuer: | Steele Creek CLO 2015-1 Ltd./Steele Creek CLO 2015-1, LLC
|
| Amount: | $360.98 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas Securities Corp.
|
| Manager: | Steele Creek Investment Management LLC
|
| Pricing date: | March 3
|
|
|
| Class A notes
|
| Amount: | $222.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class B notes
|
| Amount: | $40.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C notes
|
| Amount: | $22.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 330 bps
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class D notes
|
| Amount: | $19 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 400 bps
|
| Rating: | Moody’s: Baa2 expected
|
|
|
| Class E notes
|
| Amount: | $16.33 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 525 bps
|
| Rating: | Moody’s: Ba2 expected
|
|
|
| Class F notes
|
| Amount: | $7.55 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 650 bps
|
| Rating: | Moody’s: B2 expected
|
|
|
| Equity
|
| Amount: | $32.85 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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