By Cristal Cody
Tupelo, Miss., Dec. 3 – Sculptor Loan Management LP priced $46,365,907 of notes in two parts in a refinancing of fixed-rate tranches from a 2012 collateralized loan obligation transaction, according to market sources.
OZLM Funding II, Ltd./OZLM Funding II, LLC sold $27,165,907 of 2.159% class A-1a-FR senior secured fixed-rate notes (Aaa/AAA).
The CLO also priced $19.2 million of class A-2-RFR senior secured floating-rate notes (/AA/) at Libor plus 230 basis points.
In the original CLO that was issued Nov. 1, 2012, $27.17 million of 4.042% class A-1a-F notes and $19.2 million of 4.651% class A-2-RF fixed-rate notes were priced.
Citigroup Global Markets Inc. was the refinancing agent.
Sculptor Loan Management, formerly known as Och-Ziff Loan Management LP, is the CLO manager.
The notes are due July 30, 2031.
The refinanced notes will have a non-call period that ends in June 2021.
Proceeds were used to redeem the class A-1a-F and A-2-RF notes.
The CLO is collateralized primarily by broadly syndicated first-lien senior secured corporate loans.
The New York-based firm is part of Sculptor Capital Management, Inc.
| Issuer: | OZLM Funding II, Ltd./OZLM Funding II, LLC
|
| Amount: | $46,365,907 refinancing
|
| Maturity: | July 30, 2031
|
| Securities: | Senior secured fixed- and floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Citigroup Global Markets Inc.
|
| Manager: | Sculptor Loan Management LP
|
| Call feature: | June 2021
|
| Settlement date: | Dec. 3
|
|
|
| Class A-1a-FR notes
|
| Amount: | $27,165,907
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.159%
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A-2-RFR notes
|
| Amount: | $19.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 230 bps
|
| Ratings: | S&P: AA
|
|
|
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