By Cristal Cody
Tupelo, Miss., Feb. 6 – Crescent Capital Group LP sold $478.5 million of notes due Oct. 15, 2026 at par in a refinancing of the 2014 Atlas Senior Loan Fund VI, Ltd. transaction, according to a market source.
Atlas Senior Loan Fund VI priced $340.45 million of class A-R senior secured floating-rate notes at Libor plus 125 basis points, $61.6 million of class B-R senior secured floating-rate notes at Libor plus 160 bps, $47.85 million of class C-R senior secured floating-rate notes at Libor plus 240 bps and $28.6 million of class C-R senior secured deferrable floating-rate notes at Libor plus 360 bps.
Morgan Stanley & Co. LLC arranged the deal.
Crescent Capital is the CLO manager.
The transaction is collateralized primarily by first-lien senior secured corporate loans.
Crescent Capital priced one new CLO and refinanced two vintage CLOs in 2016.
The alternative asset management firm is based in Los Angeles.
| Issuer: | Atlas Senior Loan Fund VI, Ltd.
|
| Amount: | $478.5 million refinancing
|
| Maturity: | Oct. 15, 2026
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Morgan Stanley & Co. LLC
|
| Manager: | Crescent Capital Group LP
|
| Pricing date: | Feb. 2
|
|
|
| Class A-R notes
|
| Amount: | $340.45 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa expected
|
| S&P: AAA expected
|
|
|
| Class B-R notes
|
| Amount: | $61.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Price: | Par
|
| Rating: | S&P: AA expected
|
|
|
| Class C-R notes
|
| Amount: | $47.85 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 240 bps
|
| Price: | Par
|
| Rating: | S&P: A expected
|
|
|
| Class D-R notes
|
| Amount: | $28.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 360 bps
|
| Price: | Par
|
| Rating: | S&P: BBB expected
|
© 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.
