Chicago, Sept. 13 – Sculptor Loan Management LP priced $396 million of five classes of notes due Jan. 15, 2029 in a collateralized loan obligation transaction second refinancing, according to a supplemental indenture.
OZLM XIV, Ltd./OZLM XIV LLC priced $306.25 million of class A-1a floating-rate notes; $12.5 million of class A-1b fixed-rate notes; $46.5 million of class A-2a floating-rate notes with a coupon of Libor plus 170 basis points; $15 million of class A-2b fixed-rate notes and $15.75 million class B-1 deferrable floating-rate notes with a coupon of Libor plus 210 bps.
Deutsche Bank Securities, Inc. was the placement agent.
The A-1 loans, A-1a notes, class A-1b notes, class A-2a-R notes, class A-2b notes and class B-1-R notes will no longer be part of the portfolio.
Sculptor Loan Management LP, formerly known as Och-Ziff, will manage the CLO, which is secured primarily by broadly syndicated first-lien senior secured corporate loans.
The firm, an affiliate of New York City-based alternative asset manager Och-Ziff Capital Management Group Inc. now Sculptor Capital Management, Inc.
| Issuer: | OZLM XIV, Ltd./OZLM XIV LLC
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| Amount: | $396 million
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| Maturity: | Jan. 15, 2029
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| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
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| Placement agent: | Deutsche Bank Securities, Inc.
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| Manager: | Sculptor Loan Management LP
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| Pricing date: | Sept. 12
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| Settlement date: | Oct. 3
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1a notes
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| Amount: | $306.25 million
|
| Securities: | Floating-rate notes
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA
|
|
|
| Class A-1b notes
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| Amount: | $12.5 million
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| Securities: | Fixed-rate notes
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| Ratings: | Moody’s: Aaa expected
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| Fitch: AAA
|
|
|
| Class A-2a notes
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| Amount: | $46.5 million
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| Securities: | Floating-rate notes
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| Coupon: | Libor plus 170 bps
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| Rating: | Moody’s: Aa2 expected
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|
|
| Class A-2b notes
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| Amount: | $15 million
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| Securities: | Fixed-rate notes
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| Rating: | Moody’s: Aa2 expected
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|
|
| Class B-1 notes
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| Amount: | $15.75 million
|
| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 210 bps
|
| Rating: | Moody’s: A2 expected
|
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