Telos CLO 2013-3 to issue $469.6 million of notes via refinancing

By Tali Rackner

Minneapolis, June 26 – Telos CLO 2013-3, Ltd./Telos CLO 2013-3, LLC plans to issue $469.6 million of five classes of notes and some subordinated notes via a refinancing, according to a notice from trustee U.S. Bank NA.

Specifically, on July 17, Telos CLO 2013-3 intends to issue:

• $294.5 million of class A-R senior secured floating-rate notes (Aaa (sf)/AAA sf/);

• $50.1 million of class B-R senior secured floating-rate notes (Aa2 (sf)//);

• $24.1 million of class C-R mezzanine secured deferrable floating-rate notes (A2 (sf)//);

• $30.3 million of class D-R mezzanine secured deferrable floating-rate notes (Baa3 (sf)//);

• $24.1 million of class E-R mezzanine secured deferrable floating-rate notes (Ba3 (sf)//); and

• $46.5 million of subordinated notes.

Proceeds will be used to refinance the existing class A, B, C, D, E and F notes.

New York City-based Telos Asset Management LLC is the collateral servicer and Housgon-based Virtus Group, LP is the collateral administrator.

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