DFG Investment Partners to reprice $288 million Vibrant CLO V class A notes

By Cristal Cody

Tupelo, Miss., Nov. 4 – DFG Investment Partners, Inc. plans to refinance $288 million of notes due Jan. 20, 2029 (Aaa//AAA) in the AAA-rated tranche from a vintage 2016 collateralized loan obligation offering, according to a market source and a notice of revised proposed supplemental indenture on Friday.

Vibrant CLO V Ltd./Vibrant CLO V LLC intends to price $249 million of class A-R senior secured floating-rate notes (expected ratings Aaa//AAA) in the Rule 144A and Regulation S deal.

The company initially planned to refinance the original CLO’s class B, C and D tranches but has dropped those tranches from the revised offering.

BNP Paribas Securities Corp. is the refinancing placement agent.

DFG will manage the CLO, which was first issued Dec. 22, 2016.

Proceeds will be used to redeem the original $288 million of class A notes that priced at Libor plus 155 basis points.

The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.

DFG Investment Advisors is an asset management firm based in New York.

© 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.