Chicago, Sept. 3 – TCW Asset Management Co. LLC refinanced and extended for $406.65 million the collateralized loan obligation originally issued by TCW CLO 2019-1 AMR Ltd./TCW CLO 2019-1 AMR LLC, according to a pre-sale report.
The notes will now mature on Aug. 16, 2034.
The refinanced CLO consists of $4 million of class XR senior secured floating-rate notes at Libor plus 100 basis points, $241 million of class ASNR senior secured floating-rate notes at Libor plus 122 bps, $11 million of class AJR senior secured floating-rate notes at Libor plus 150 bps, $5 million of class AJFR 2.68% senior secured fixed-rate notes, $48 million of class BR senior secured floating-rate notes at Libor plus 175 bps, $20.25 million of class CR senior secured deferrable floating-rate notes at Libor plus 250 bps, $4 million of class CFR 3.75% senior secured deferrable fixed-rate notes, $24 million of class DR senior secured deferrable floating-rate notes at Libor plus 367 bps, $14 million of class ER senior secured deferrable floating-rate notes at Libor plus 655 bps, $4 million of class FR senior secured deferrable floating-rate notes at Libor plus 845 bps, $0.4 million of class Z1 deferrable floating-rate notes, $0.4 million of class Z2 deferrable floating-rate notes and $30.6 million of subordinated notes.
TCW Asset Management Co. LLC will manage the collateral through the end of the reinvestment period on Aug. 16, 2026.
The notes can be called starting Aug. 16, 2023.
Jefferies LLC and MUFG Securities Americas Inc. was the placement agent.
The global asset management company is based in Los Angeles. The asset manager is a wholly owned subsidiary of TCW Group Inc.
| Issuer: | TCW CLO 2019-1 AMR Ltd./TCW CLO 2019-1 AMR LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $406.65 million
|
| Maturity: | Aug. 16, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC and MUFG Securities Americas Inc.
|
| Manager: | TCW Asset Management Co. LLC
|
| Call feature: | Aug. 16, 2023
|
| Settlement date: | Aug. 16
|
|
|
| Class XR notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Rating: | S&P: AAA
|
|
|
| Class ASNR notes
|
| Amount: | $241 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 122 bps
|
| Rating: | S&P: AAA
|
|
|
| Class AJR notes
|
| Amount: | $11 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Rating: | S&P: AAA
|
|
|
| Class AJFR notes
|
| Amount: | $5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.68%
|
| Rating: | S&P: AAA
|
|
|
| Class BR notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Rating: | S&P: AA
|
|
|
| Class CR notes
|
| Amount: | $20.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class CFR notes
|
| Amount: | $4 million
|
| Securities: | Senior secured deferrable fixed-rate notes
|
| Coupon: | 3.75%
|
| Rating: | S&P: A
|
|
|
| Class DR notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 367 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class ER notes
|
| Amount: | $14 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 655 bps
|
| Rating: | S&P: BB-
|
|
|
| Class FR notes
|
| Amount: | $4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 845 bps
|
| Rating: | S&P: B-
|
|
|
| Class Z1 notes
|
| Amount: | $0.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
|
|
| Class Z2 notes
|
| Amount: | $0.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
|
|
| Subordinated notes
|
| Amount: | $30.6 million
|
| Securities: | Subordinated notes
|
|
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