Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Antares CLO 2018-2, LLC > News item |
Antares offers $1 billion new middle-market CLO; securitized secondary market active
By Cristal Cody
Tupelo, Miss., Aug. 17 – Antares Capital Advisers LLC intends to tap the CLO middle market with a $1 billion transaction.
The deal is the CLO manager’s second transaction of the year.
Middle-market CLO volume has been heavier year to date with $9.4 billion of issuance compared to the same period a year ago when $8.3 billion of issues had priced, according to a Wells Fargo Securities, LLC research note.
Looking at the secondary market, volume picked up on Thursday with $150.6 million of high-grade CBO/CDO/CLO issues and $236.26 million of lower-rated securities traded, according to Trace data.
In its deal, Antares Capital Advisers plans to price $1,008,170,000 of notes due Oct. 20, 2030 in the Antares CLO 2018-2, Ltd./Antares CLO 2018-2, LLC middle-market CLO transaction, according to a market source.
The deal includes $575 million of class A-1 floating-rate notes (/AAA/AAA); $20 million of class A-2 floating-rate notes (/non-rated/AAA); $95 million of class B floating-rate notes (/AA/); $75 million of class C deferrable floating-rate notes (/A/); $65 million of class D deferrable floating-rate notes (/BBB-/); $55 million of class E deferrable floating-rate notes (/BB-/) and $123.17 million of subordinated notes.
Deutsche Bank Securities Inc. is the placement agent.
The notes are backed primarily by middle-market senior secured term loans.
© 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.