ECP CLO 2014-6 to sell about $850 million in CLO offering

By Rebecca Melvin

New York, Aug. 26 – ECP CLO 2014-6 Ltd./ ECP CLO 2014-6 LLC plans to sell about $850 million of floating-rate and subordinated notes in a collateralized loan obligation offering, according to a market source.

ECP CLO 2014-6 plans $516.7 million of class A-1a floating-rate notes (//AAA) and $29 million of class A-1b floating-rate notes (//AAA); as well as class A-2, B, C, D-1, D-2, E and subordinated notes.

Silvermine Capital Management LLC is the CLO manager.

Proceeds will be used to purchase a portfolio of about $850 million of leveraged loans.

The notes will have a four-year reinvestment period.

ECP CLO 2014-6 is a managed cash flow CLO.

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