By Cristal Cody
Tupelo, Miss., July 15 – Alcentra NY, LLC priced $441.7 million of notes due July 20, 2030 in the manager’s first dollar-denominated collateralized loan obligation deal of 2019, according to a market source.
Shackleton 2019-XIV CLO, Ltd./Shackleton 2019-XIV CLO LLC sold $287.1 million of class A-1 floating-rate notes at a discount margin of Libor plus 123 basis points; $43.7 million of class A-2 floating-rate notes at a discount margin of Libor plus 190 bps; $20 million of class B floating-rate notes at a discount margin of Libor plus 245 bps; $27.75 million of class C floating-rate notes at a discount margin of Libor plus 360 bps; $21.65 million of class D floating-rate notes at a discount margin of Libor plus 700 bps and $41.5 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
Alcentra will manage the CLO.
The CLO has a one-year non-call period and a three-year reinvestment period.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The New York-based firm is part of BNY Alcentra Group Holdings, Inc.
| Issuer: | Shackleton 2019-XIV CLO, Ltd./Shackleton 2019-XIV CLO LLC
|
| Amount: | $441.7 million
|
| Maturity: | July 20, 2030
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | Alcentra NY, LLC
|
| Call feature: | One year
|
| Pricing date: | June 25
|
| Settlement date: | Aug. 5
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1 notes
|
| Amount: | $287.1 million
|
| Securities: | Floating-rate notes
|
| Discount margin: | Libor plus 123 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $43.7 million
|
| Securities: | Floating-rate notes
|
| Discount margin: | Libor plus 190 bps
|
| Ratings: | Non-rated
|
|
|
| Class B notes
|
| Amount: | $20 million
|
| Securities: | Floating-rate notes
|
| Discount margin: | Libor plus 245 bps
|
| Ratings: | Non-rated
|
|
|
| Class C notes
|
| Amount: | $27.75 million
|
| Securities: | Floating-rate notes
|
| Discount margin: | Libor plus 360 bps
|
| Ratings: | Non-rated
|
|
|
| Class D notes
|
| Amount: | $21.65 million
|
| Securities: | Floating-rate notes
|
| Discount margin: | Libor plus 700 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $41.5 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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