By Cristal Cody
Tupelo, Miss., Nov. 20 – DFG Investment Partners, Inc. sold $288 million of class A-R floating-rate notes due Jan. 20, 2029 (Aaa//AAA) at Libor plus 125 basis points, according to a notice of executed supplemental indenture on Wednesday.
The notes (Aaa//AAA) were refinanced from the Vibrant CLO V Ltd./Vibrant CLO V LLC deal, which was first issued Dec. 22, 2016.
The original $288 million of class A notes priced at Libor plus 155 bps.
DFG Investment Advisors 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. was the refinancing placement agent.
Proceeds will be used to redeem the original class A notes.
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.
| Issuer: | Vibrant CLO V Ltd./Vibrant CLO V LLC
|
| Amount: | $288 million refinancing
|
| Maturity: | Jan. 20, 2029
|
| Securities: | Senior secured floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | BNP Paribas Securities Corp.
|
| Manager: | DFG Investment Partners, Inc.
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| Coupon: | Libor plus 125 bps
|
| Settlement date: | Nov. 18
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
| Distribution: | Rule 144A and Regulation S
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