By Cristal Cody
Tupelo, Miss., May 11 – Carlyle Investment Management LLC sold $610.3 million of notes due April 27, 2027 in a collateralized loan obligation transaction, according to a market source.
Carlyle Global Market Strategies CLO 2015-2, Ltd./Carlyle Global Market Strategies CLO 2015-2 LLC priced $384 million of class A-1 senior secured floating-rate notes at Libor plus 147 basis points; $69.2 million of class A-2 senior secured floating-rate notes at Libor plus 225 bps; $28.6 million of class B senior secured deferrable floating-rate notes at Libor plus 315 bps; $34.1 million of class C mezzanine secured deferrable floating-rate notes at Libor plus 375 bps; $36 million of class D mezzanine secured deferrable floating-rate notes at Libor plus 530 bps; $3.7 million of class E junior secured deferrable floating-rate notes at Libor plus 620 bps and $54.7 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Carlyle Investment Management is the CLO manager.
The deal is backed primarily by first-lien senior secured corporate loans.
Proceeds from the offering will be used to purchase a portfolio of about $600 million of mainly senior secured leveraged loans.
Carlyle Investment Management has priced two U.S. CLO deals in 2015.
The asset management firm is an affiliate of the Washington, D.C.-based Carlyle Group.
Issuer: | Carlyle Global Market Strategies CLO 2015-2, Ltd./Carlyle Global Market Strategies CLO 2015-2 LLC
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Amount: | $610.3 million
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Maturity: | April 27, 2027
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Securities: | Floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | Citigroup Global Markets Inc.
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Manager: | Carlyle Investment Management LLC
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Settlement date: | May 7
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|
Class A-1 notes
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Amount: | $384 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 147 bps
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Ratings: | Moody’s: Aaa
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| Fitch: AAA
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|
Class A-2 notes
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Amount: | $69.2 million
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Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 225 bps
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Rating: | Moody’s: Aa2
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|
Class B notes
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Amount: | $28.6 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 315 bps
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Rating: | Moody’s: A2
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|
Class C notes
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Amount: | $34.1 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | Libor plus 375 bps
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Rating: | Moody’s: Baa3
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Class D notes
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Amount: | $36 million
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Securities: | Mezzanine secured deferrable floating-rate notes
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Coupon: | Libor plus 530 bps
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Rating: | Moody’s: Ba3
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|
Class E notes
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Amount: | $3.7 million
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Securities: | Junior secured deferrable floating-rate notes
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Coupon: | Libor plus 620 bps
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Rating: | Moody’s: B3
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|
Equity
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Amount: | $54.7 million
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Securities: | Subordinated notes
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Rating: | Non-rated
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