Fifth Street CLO Management preps $416.6 million middle-market CLO

By Cristal Cody

Tupelo, Miss., Aug. 21 – Fifth Street CLO Management LLC plans to price a $416.6 million collateralized loan obligation offering backed by middle-market loans, according to a source on Friday.

The Fifth Street SLF II Ltd./Fifth Street SLF II LLC deal includes $20 million of class A-1R revolving notes (/AAA); $170.8 million of class A-1T floating-rate notes (/AAA); $40.6 million of class A-1F fixed-rate notes (/AAA); $40.6 million of class A-2 floating-rate notes; $39.6 million of class B deferrable floating-rate notes; $22.3 million of class C deferrable floating-rate notes; $35.2 million of class D deferrable floating-rate notes and $52.1 million of subordinated notes.

Natixis Securities America LLC is the underwriter.

Fifth Street CLO Management will manage the CLO.

The notes are due Sept. 30, 2027.

The CLO is non-callable until Sept. 30, 2017. The reinvestment period ends Sept. 30, 2019.

The deal is backed by a revolving pool of middle-market loans.

Fifth Street CLO Management is a subsidiary of Fifth Street Asset Management Inc., an alternative asset management firm based in Greenwich, Conn.

© 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.