By Cristal Cody
Tupelo, Miss., May 19 – Seix Investment Advisors LLC priced $565.5 million of notes due 2027 in a collateralized loan obligation offering, according to a market source.
Mountain View CLO 2015-1, Ltd./Mountain View CLO 2015-1, Corp. sold $326.4 million of class A-1A floating-rate notes at Libor plus 146 basis points; $30 million of 3.25% class A-1B fixed-rate notes; $60.75 million of class A-2 floating-rate notes at Libor plus 210 bps; $26.75 million of class B floating-rate notes at Libor plus 305 bps; $31.9 million of class C floating-rate notes at Libor plus 365 bps; $31 million of class D floating-rate notes at Libor plus 535 bps and $58.7 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Seix Investment Advisors will manage the CLO.
The CLO manager priced one broadly syndicated CLO in 2013 and one deal in 2014.
The Upper Saddle River, N.J.-based firm is indirectly owned by SunTrust Banks Inc.
| Issuer: | Mountain View CLO 2015-1, Ltd./Mountain View CLO 2015-1, Corp.
|
| Amount: | $565.5 million
|
| Maturity: | 2027
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Seix Investment Advisors LLC
|
| Pricing date: | May 13
|
|
|
| Class A-1A notes
|
| Amount: | $326.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 146 bps
|
| Rating: | Moody’s: Aaa (expected)
|
| Fitch: AAA (expected)
|
|
|
| Class A-1B notes
|
| Amount: | $30 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.25%
|
| Rating: | Moody’s: Aaa (expected)
|
| Fitch: AAA (expected)
|
|
|
| Class A-2 notes
|
| Amount: | $60.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | Moody’s: Aa2 (expected)
|
|
|
| Class B notes
|
| Amount: | $26.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 305 bps
|
| Rating: | Moody’s: A2 (expected)
|
|
|
| Class C notes
|
| Amount: | $31.9 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 365 bps
|
| Rating: | Moody’s: Baa3 (expected)
|
|
|
| Class D notes
|
| Amount: | $31 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 535 bps
|
| Rating: | Moody’s: Ba3 (expected)
|
|
|
| Equity
|
| Amount: | $58.7 million
|
| Securities: | Subordinated notes
|
| Rating: | Non-rated
|
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