By Cristal Cody
Tupelo, Miss., April 18 – Alcentra NY, LLC priced $349.7 million of notes due Jan. 13, 2025 in a refinancing of a 2013 broadly syndicated collateralized loan obligation deal, according to a market source and a notice of executed second supplemental indenture.
Shackleton 2013-IV CLO, Ltd./Shackleton 2013-IV CLO LLC sold $265.1 million of class A-R floating-rate senior term notes at par to yield Libor plus 112 basis points, $39.2 million of class B-1-R floating-rate senior term notes at par to yield Libor plus 150 bps, $10 million of 3.476% class B-2-R fixed-rate senior term notes at par and $35.4 million of class C-R floating-rate deferrable mezzanine term notes at par to yield Libor plus 210 bps.
Citigroup Global Markets Inc. was the refinancing agent.
Alcentra will continue to manage the CLO.
In the original transaction that closed on Dec. 19, 2013, the CLO priced $265.1 million of class A senior secured floating-rate notes due 2025 at Libor plus 150 bps. The original deal also included class B-1, B-2, C, D, E and F tranches.
Proceeds from the refinancing were used to redeem the original class A, B-1, B-2 and C notes.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
Alcentra priced one new CLO and refinanced one vintage CLO in 2016.
The New York-based firm is part of BNY Alcentra Group Holdings, Inc.
| Issuer: | Shackleton 2013-IV CLO Ltd./Shackleton 2013-IV CLO LLC
|
| Amount: | $349.7 million refinancing
|
| Maturity: | Jan. 13, 2025
|
| Securities: | Fixed- and floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Citigroup Global Markets Inc.
|
| Manager: | Alcentra NY, LLC
|
| Pricing date: | March 24
|
| Settlement date: | April 13
|
|
|
| Class A-R notes
|
| Amount: | $265.1 million
|
| Securities: | Floating-rate senior term notes
|
| Coupon: | Libor plus 112 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class B-1-R notes
|
| Amount: | $39.2 million
|
| Securities: | Floating-rate senior term notes
|
| Coupon: | Libor plus 150 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
|
|
| Class B-2-R notes
|
| Amount: | $10 million
|
| Securities: | Fixed-rate senior term notes
|
| Coupon: | 3.476%
|
| Price: | Par
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $35.4 million
|
| Securities: | Floating-rate senior term notes
|
| Coupon: | Libor plus 210 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
