By Cristal Cody
Tupelo, Miss., March 6 – NewMark Capital LLC refinanced $320.08 million of notes due June 30, 2026 in a vintage 2014 collateralized loan obligation deal, according to details from a market source.
NewMark Capital Funding 2014-2 CLO Ltd. priced $195.75 million of class A-1-R floating-rate notes at Libor plus 144 basis points, $15 million of class A-2A-R floating-rate notes at Libor plus 150 bps, $2.25 million of class A-2-B-R floating-rate notes at Libor plus 103 bps, $28 million 3.29% class A-F-R fixed-rate notes and $2.08 million of class A-X-R floating-rate notes at Libor plus 105 bps.
The CLO sold $27 million of class B-1-R floating-rate notes at Libor plus 227 bps; $24 million of 4.59% class B-F-R fixed-rate notes and $26 million of class C-R floating-rate notes at Libor plus 315 bps.
Jefferies LLC was the refinancing agent.
NewMark Capital will continue to manage the CLO.
Proceeds from the transaction will be used to redeem the original notes.
NewMark Capital is a New York-based investment manager.
| Issuer: | NewMark Capital Funding 2014-2 CLO Ltd.
|
| Amount: | $320.08 million refinancing
|
| Maturity: | June 30, 2026
|
| Securities: | Fixed- and floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Jefferies LLC
|
| Manager: | NewMark Capital LLC
|
| Pricing date: | March 2
|
| Settlement date: | March 30
|
|
|
| Class A-1-R notes
|
| Amount: | $195.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 144 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2A-R notes
|
| Amount: | $15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2B-R notes
|
| Amount: | $2.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 103 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-F-R notes
|
| Amount: | $28 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.29%
|
| Rating: | S&P: AAA
|
|
|
| Class A-X-R notes
|
| Amount: | $2.08 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 105 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1-R notes
|
| Amount: | $27 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 227 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-F-R notes
|
| Amount: | $24 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 4.59%
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $26 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | S&P: A
|
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