Alcentra NY prepares $514.45 million Shackleton 2015-VIII CLO

By Cristal Cody

Tupelo, Miss., Aug. 12 – Alcentra NY LLC is in the pipeline with a $514.45 million collateralized loan obligation deal, according to a market source.

The Shackleton 2015-VIII CLO, Ltd./Shackleton 2015-VIII CLO, LLC transaction is expected to include $315.3 million of class A floating-rate notes (/AAA/); $59.1 million of class B floating-rate notes (/AA/); $35.6 million of class C deferrable floating-rate notes (/A/); $25 million of class D deferrable floating-rate notes (/BBB/); $25 million of class E deferrable floating-rate notes (/BB/); $10 million of class F deferrable floating-rate notes (/B/) and $44.45 million of subordinated notes.

J.P. Morgan Securities LLC is the placement agent.

Alcentra will manage the CLO.

The notes are due Oct. 20, 2027.

The CLO is non-callable until Oct. 20, 2017. The reinvestment period ends Oct. 20, 2019.

The transaction is backed primarily by broadly syndicated senior secured corporate loans.

Alcentra previously was in the primary market with the $508 million Shackleton 2015-VII CLO, Ltd./Shackleton 2015-VII CLO, LLC deal on March 27.

New York-based Alcentra, part of BNY Alcentra Group Holdings, Inc., priced two U.S. CLO transactions in 2014.

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