By Cristal Cody
Tupelo, Miss., March 21 – Guggenheim Partners Investment Management LLC priced $877.1 million of notes in the new Mercer Fields II CLO LP offering, according to a market source.
The CLO sold $560 million class A-1 floating-rate notes at Libor plus 133 basis points; $84.1 million of class A-2 floating-rate notes at Libor plus 170 bps; $50 million of class B floating-rate notes at Libor plus 235 bps; $60 million of class C floating-rate notes at Libor plus 375 bps; $16 million of class D-1 floating-rate notes at Libor plus 685 bps; $34 million of class D-2 notes at Libor plus 685 bps and $73 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Guggenheim will manage the CLO.
The investment management firm and subsidiary of Guggenheim Partners, LLC is based in Santa Monica, Calif.
| Issuer: | Mercer Fields II CLO LP
|
| Amount: | $877.1 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Guggenheim Partners Investment Management LLC
|
| Pricing date: | March 10
|
|
|
| Class A-1 notes
|
| Amount: | $560 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 133 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class A-2 notes
|
| Amount: | $84.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class B notes
|
| Amount: | $50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 235 bps
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class C notes
|
| Amount: | $60 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 375 bps
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class D-1 notes
|
| Amount: | $16 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 685 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Class D-2 notes
|
| Amount: | $34 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 685 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Equity
|
| Amount: | $73 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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