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
|
| Amount: | $610.3 million
|
| Maturity: | April 27, 2027
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Carlyle Investment Management LLC
|
| Settlement date: | May 7
|
|
|
| Class A-1 notes
|
| Amount: | $384 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 147 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $69.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 225 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class B notes
|
| Amount: | $28.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class C notes
|
| Amount: | $34.1 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 375 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class D notes
|
| Amount: | $36 million
|
| Securities: | Mezzanine secured deferrable floating-rate notes
|
| Coupon: | Libor plus 530 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Class E notes
|
| Amount: | $3.7 million
|
| Securities: | Junior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 620 bps
|
| Rating: | Moody’s: B3
|
|
|
| Equity
|
| Amount: | $54.7 million
|
| Securities: | Subordinated notes
|
| Rating: | Non-rated
|
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