Chicago, March 3 – Nuveen Asset Management, LLC has refinanced three classes of notes for $492 million from the Symphony CLO XV, Ltd./Symphony CLO XV LLC collateralized loan obligation deal due Jan. 19, 2032, according to a release.
The CLO sold $384 million of class A-R3 senior floating-rate notes at Libor plus 108 basis points, $72 million of class B-R3 senior floating-rate notes at Libor plus 155 bps and $36 million of class C-R3 deferrable mezzanine floating-rate notes at Libor plus 235 bps.
Collateral for the notes is mostly broadly syndicated senior secured corporate loans.
Four classes of notes from the original CLO will remain outstanding, as well as one class of subordinated notes.
Originally, the Symphony CLO XV, Ltd./Symphony CLO XV LLC vehicle sold $3 million of class X floating-rate notes at Libor plus 100 bps; $378 million of class A floating-rate notes at Libor plus 145 bps; $63 million of class B-1 floating-rate notes at Libor plus 220 bps; $15 million of 4.21% class B-2 fixed-rate notes; $33 million of class C floating-rate notes at Libor plus 320 bps; $33 million of class D floating-rate notes at Libor plus 375 bps; $33 million of class D floating-rate notes at Libor plus 375 bps; $30 million of class E floating-rate notes at Libor plus 505 bps; $12 million of class F floating-rate notes at Libor plus 575 bps and $55.5 million of subordinated notes.
Nuveen is the successor of Symphony Asset Management LLC and will continue to manage the portfolio.
Nuveen Asset Management is based in Chicago.
| Issuers: | Symphony CLO XV, Ltd./Symphony CLO XV LLC
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| Amount: | $492 million
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| Maturity: | Jan. 19, 2032
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| Securities: | Floating-rate notes
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| Structure: | Cash flow CLO
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| Manager: | Nuveen Asset Management, LLC
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| Announcement date: | March 2
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| Class A-R3 notes
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| Amount: | $384 million
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| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 108 bps
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| Rating: | Moody's: Aaa
|
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| Class B-R3 notes
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| Amount: | $72 million
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| Securities: | Senior floating-rate notes
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| Coupon: | Libor plus 155 bps
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| Rating: | Moody's: NR
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| Class C-R3 notes
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| Amount: | $36 million
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| Securities: | Deferrable mezzanine floating-rate notes
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| Coupon: | Libor plus 235 bps
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| Rating: | Moody's: NR
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