MCF Capital Management preps $405.96 million middle-market CLO

By Cristal Cody

Tupelo, Miss., Oct. 15 – MCF Capital Management LLC plans to price $405,959,000 of notes due Oct. 15, 2025 in a collateralized loan obligation offering, according to a market source.

The MCF CLO IV LLC deal includes $228.5 million of class A floating-rate notes (/AAA/AAA); $34.25 million of class B floating-rate notes (/AA/); $28.5 million of class C deferrable floating-rate notes (/A/); $28.5 million of class D deferrable floating-rate notes (/BBB-/); $28.5 million of class E deferrable floating-rate notes (/BB/) and $57,709,000 of interest notes.

Wells Fargo Securities LLC is the placement agent.

MCF Capital Management will manage the CLO portfolio.

The CLO has a two-year non-call period and a four-year reinvestment period.

The offering is backed primarily by middle-market senior secured loans.

Proceeds from the deal will be used to purchase a portfolio of about $400 million of senior secured middle-market corporate loans.

The transaction is expected to close in November.

MCF Capital Management priced three CLO deals in 2013.

The middle market loan firm is based in Laguna Hills, Calif.

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