Telos CLO 2014-6 to issue $322.5 million of notes via refinancing

By Tali Rackner

Minneapolis, April 12 – Telos CLO 2014-6, Ltd./Telos CLO 2014-6, LLC plans to issue $322.5 million in seven classes of notes via a refinancing, according to a notice from trustee U.S. Bank, NA.

The following will be issued on April 17:

• $161.5 million of class A-1-R senior secured floating-rate notes (Aaa (sf)/AAA (sf)/);

• $60 million of class A-2-R senior secured fixed-rate notes (Aaa (sf)/AAA (sf)/);

• $8 million of class B-1-R senior secured floating-rate notes (/AA (sf)/);

• $34 million of class B-2-R senior secured fixed-rate notes (/AA (sf)/);

• $22 million of class C-R mezzanine secured deferrable floating-rate notes (/A (sf)/);

• $20.5 million of class D-R mezzanine secured deferrable floating-rate notes (/BBB (sf)/); and

• $16.5 million of class E-R mezzanine secured deferrable floating-rate notes (/BB (sf)/).

Proceeds will be used to refinance the existing class A-1, A-2, B-1, B-2, C, D and E notes.

Houston-based Virtus Group, LP is the collateral administrator.

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