NXT Capital CLO 2014-1 plans to refinance five classes of notes

By Angela McDaniels

Tacoma, Wash., July 10 – NXT Capital CLO 2014-1, LLC plans to refinance its class A, class B-1, class B-2, class C and class D notes, according to a notice to noteholders.

Wells Fargo Securities LLC will be the underwriter.

As previously reported, the issuer priced $357.45 million of notes due April 2026 in a collateralized loan obligation offering in April 2014.

NXT Capital priced $188.75 million of class A notes (/AAA/) at Libor plus 175 basis points, $24 million of class B-1 notes (/AA/) at Libor plus 250 bps, $5 million of class B-2 notes (/AA/) at 4.756%, $37.25 million of class C notes (not rated) at Libor plus 350 bps, $16 million of class D notes at Libor plus 400 bps, $32 million of class E notes at Libor plus 550 bps and $54.45 million of non-rated subordinated notes with a residual coupon.

Wells Fargo was the underwriter.

The CLO manager is NXT Capital Investment Advisors, LLC.

The non-call period for the notes ended in April 2016.

NXT Capital CLO is a small- to medium-enterprise cash-flow CLO.

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