By Cristal Cody
Tupelo, Miss., March 10 – Shenkman Capital Management, Inc. refinanced $406.25 million of notes due April 20, 2026 at par in a vintage 2014 broadly syndicated collateralized loan obligation offering, according to a market source.
Washington Mill CLO Ltd./Washington Mill CLO LLC priced $295 million of class A-1R floating-rate notes at Libor plus 122 basis points; $18.75 million of 2.9% class A-2R fixed-rate notes; $48.13 million of class B-1R floating-rate notes at Libor plus 166 bps; $18.75 million of 3.6% class B-2R fixed-rate notes and $25.63 million of class CR floating-rate notes at Libor plus 260 bps.
Citigroup Global Markets Inc. arranged the offering.
Shenkman Capital Management is a New York-based investment firm.
Issuer: | Washington Mill CLO Ltd./Washington Mill CLO LLC
|
Amount: | $406.26 million
|
Maturity: | April 20, 2026
|
Securities: | Fixed- and floating-rate notes
|
Structure: | Cash flow CLO
|
Refinancing agent: | Citigroup Global Markets Inc.
|
Manager: | Shenkman Capital Management, Inc.
|
Pricing date: | Feb. 24
|
|
Class A-1R notes
|
Amount: | $295 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 122 bps
|
Price: | Par
|
Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
Class A-2R notes
|
Amount: | $18.75 million
|
Securities: | Fixed-rate notes
|
Coupon: | 2.9%
|
Price: | Par
|
Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
Class B-1R notes
|
Amount: | $48.13 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 166 bps
|
Price: | Par
|
Rating: | Moody’s: Aa2 expected
|
|
Class B-2R notes
|
Amount: | $18.75 million
|
Securities: | Fixed-rate notes
|
Coupon: | 3.6%
|
Price: | Par
|
Rating: | Moody’s: Aa2 expected
|
|
Class CR notes
|
Amount: | $25.63 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 260 bps
|
Price: | Par
|
Rating: | Moody’s: A2 expected
|
© 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.