Chicago, Nov. 12 – Sculptor Loan Management LP conducted a second refinancing of $583.25 million of notes due January 2029 from a vintage collateralized loan obligation transaction, according to a notice of executed supplemental indenture on Monday.
The fourth supplemental indenture covers the pricing of OZLM III, Ltd./OZLM III, LLC’s:
• $396.5 million of class A-1-R-R senior secured floating-rate notes at Libor plus 118 basis points;
• $65 million of class A-2a-R-R senior secured floating-rate notes at Libor plus 195 bps;
• $13,875,000 of 3.554% class A-2b-R-R senior secured fixed-rate notes;
• $47,375,000 of class B-R-R senior secured deferrable floating-rate notes at Libor plus 270 bps;
• $30.5 million of class C-R senior secured deferrable floating-rate notes at Libor plus 425 bps; and
• $30 million of class D senior secured deferrable floating-rate notes at Libor plus 777 bps.
Barclays arranged the deal.
Sculptor Loan Management will continue to manage the CLO.
Proceeds were used to refinance the class A-1-R notes, class A-2-R notes and class B-R notes in full.
The original CLO was issued Feb. 20, 2013.
The deal is collateralized primarily by broadly syndicated senior secured corporate loans.
The firm is an affiliate of New York City-based alternative asset manager and was previously known as Och-Ziff Loan Management LP.
| Issuer: | OZLM III, Ltd./OZLM III, LLC
|
| Amount: | $583.25 million refinancing
|
| Maturity: | January 2029
|
| Securities: | Fixed- and floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | Barclays
|
| Manager: | Sculptor Loan Management LP
|
| Second refinancing date: | Nov. 8
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A-1-R-R notes
|
| Amount: | $396.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 118 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A-2a-R-R notes
|
| Amount: | $65 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | S&P: AA
|
|
|
| Class A-2b-R-R notes
|
| Amount: | $13,875,000
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.554%
|
| Rating: | S&P: AA
|
|
|
| Class B-R-R notes
|
| Amount: | $47,375,000
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 270 bps
|
| Rating: | S&P: A
|
|
|
| Class C-R notes
|
| Amount: | $30.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 425 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D-R notes
|
| Amount: | $30 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 777 bps
|
| Rating: | S&P: BB
|
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