By Cristal Cody
Tupelo, Miss., Dec. 2 – Carlyle Investment Management LLC sold $512 million of notes in the Carlyle Global Market Strategies CLO 2014-5, Ltd./Carlyle Global Market Strategies CLO 2014-5 LLC transaction, according to details from a market source.
The CLO priced $318 million of class A-1 floating-rate notes at Libor plus 152 basis points; $59 million of class A-2 floating-rate notes at Libor plus 220 bps; $22 million of 4.15% class B fixed-rate notes; $29 million of class C floating-rate notes at Libor plus 415 bps; $30 million of class D floating-rate notes at Libor plus 477 bps; $4 million of class E floating-rate notes at Libor plus 591 bps and $50 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Carlyle Investment Management will manage the CLO.
The CLO manager has priced four U.S. CLO deals in 2014, including the $571.4 million Carlyle Global Market Strategies CLO 2014-4, Ltd./Carlyle Global Market Strategies CLO 2014-4 LLC transaction in September.
The asset management firm is an affiliate of the Washington, D.C.-based Carlyle Group.
| Issuer: | Carlyle Global Market Strategies CLO 2014-5, Ltd./Carlyle Global Market Strategies CLO 2014-5 LLC
|
| Amount: | $512 million
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Carlyle Investment Management LLC
|
| Pricing date: | Nov. 6
|
|
|
| Class A-1 notes
|
| Amount: | $318 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 152 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class A-2 notes
|
| Amount: | $59 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class B notes
|
| Amount: | $22 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 4.15%
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class C notes
|
| Amount: | $29 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 415 bps
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 477 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Class E notes
|
| Amount: | $4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 591 bps
|
| Rating: | Moody’s: B3 expected
|
|
|
| Equity tranche
|
| Amount: | $50 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
© 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.
