Alcentra NY to price $509.45 million notes in Shackleton 2017-X CLO

By Cristal Cody

Tupelo, Miss., Feb. 23 – Alcentra NY LLC plans to price $509.45 million of notes due April 20, 2029 in a new broadly syndicated collateralized loan obligation deal, according to a market source.

The Shackleton 2017-X CLO, Ltd./Shackleton 2017-X LLC deal includes $320 million of class A senior floating-rate notes (Aaa//AAA); $60 million of class B senior floating-rate notes (Aa2); $30 million of class C mezzanine deferrable floating-rate notes (A2); $25 million of class D mezzanine deferrable floating-rate notes (Baa3); $25 million of class E junior deferrable floating-rate notes (Ba3) and $49.45 million of subordinated notes.

BNP Paribas Securities Corp. is the placement agent.

Alcentra will manage the CLO.

The CLO has a non-call period that ends in April 2019 and a reinvestment period that ends in October 2021.

Proceeds will be used to purchase a $500 million portfolio of mostly senior secured leveraged loans.

The deal is collateralized mainly by broadly syndicated first-lien senior secured loans and is intended to comply with U.S. and European risk retention regulations.

Alcentra priced one new CLO and refinanced one vintage CLO in 2016.

The New York-based firm is part of BNY Alcentra Group Holdings, Inc.

© 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.