By Cristal Cody
Tupelo, Miss., Sept. 30 – Octagon Credit Investors, LLC priced $13.2 million of notes in a partial refinancing of the Octagon Investment Partners 31, Ltd./Octagon Investment Partners 31, LLC broadly syndicated collateralized loan obligation transaction, according to market sources.
The CLO sold $13.2 million of 2.025% class B-2R senior secured fixed-rate notes due July 20, 2030.
In the original offering issued June 29, 2017, the CLO had priced $13.2 million of 3.729% class B-2 senior secured fixed-rate notes.
Citigroup Global Markets Inc. was the refinancing agent.
Proceeds will be used to redeem the class B-2 notes.
The offering is backed primarily by broadly syndicated senior secured corporate loans.
Octagon Credit Investors is a New York-based credit investment firm that is majority owned by Conning & Co.
| Issuer: | Octagon Investment Partners 31, Ltd./Octagon Investment Partners 31, LLC
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| Amount: | $13.2 million refinancing
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| Maturity: | July 20, 2030
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| Securities: | Class B-2R senior secured fixed-rate notes
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| Structure: | Cash flow CLO
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| Refinancing agent: | Citigroup Global Markets Inc.
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| Manager: | Octagon Credit Investors, LLC
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| Coupon: | 2.025%
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| Pricing date: | Sept. 21
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| Settlement date: | Oct. 5
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| Ratings: | Moody’s: Aa2 expected
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| Distribution: | Rule 144A and Regulation S
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