By Cristal Cody
Tupelo, Miss., Oct. 27 – BlackRock Financial Management, Inc. refinanced $12.96 million of notes due Oct. 15, 2031 in a third partial refinancing of a vintage 2015 collateralized loan obligation deal, according to market sources.
Magnetite XII, Ltd./Magnetite XII LLC priced $13 million of 2.25% class B-RRR-B senior secured fixed-rate notes (Aa2).
Mizuho Securities USA LLC was the refinancing placement agent.
The CLO was originally issued as a $608.83 million offering on March 12, 2015 and was partially refinanced on Nov. 30, 2016 and again on Sept. 6, 2018.
In the 2018 refinancing, $12.96 million of class B-RR-B notes were priced with a 4.53% coupon.
Proceeds were used to redeem the outstanding class B-RR-B notes.
The investment management firm is based in New York City.
| Issuer: | Magnetite XII, Ltd./Magnetite XII LLC
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| Amount: | $12.96 million refinancing
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| Maturity: | Oct. 15, 2031
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| Securities: | Class B-RRR-B senior secured fixed-rate notes
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| Structure: | Cash flow CLO
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| Refinancing agent: | Mizuho Securities USA LLC
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| Manager: | BlackRock Financial Management, Inc.
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| Coupon: | 2.25%
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 26
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| Rating: | Moody’s: Aa2
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| Distribution: | Rule 144A and Regulation S
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