By Cristal Cody
Tupelo, Miss., Dec. 4 – Fortress Investment Group LLC affiliate FCOD CLO Management LLC priced a $250 million middle-market collateralized loan obligation transaction, according to a market source.
Fortress Credit Opportunities XV CLO Ltd./Fortress Credit Opportunities XV CLO LLC sold $100 million of class A-R loans (Aa2) at Libor plus 280 basis points and $100 million of preferred shares.
The deal also includes a tranche of class A-T loans with a zero balance at issuance.
Natixis Securities America LLC was the placement agent.
The securities are due Dec. 4, 2028.
The CLO is backed primarily by middle-market first-lien senior secured corporate loans.
Fortress Investment Group is based in New York.
| Issuer: | Fortress Credit Opportunities XV CLO Ltd./Fortress Credit Opportunities XV CLO LLC
|
| Amount: | $250 million
|
| Maturity: | Dec. 4, 2028
|
| Securities: | Loans and preferred shares
|
| Structure: | Middle-market CLO
|
| Placement agent: | Natixis Securities America LLC
|
| Manager: | FCOD CLO Management LLC
|
| Settlement date: | Dec. 3
|
|
|
| Class A-R loans
|
| Amount: | $30 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 280 bps
|
| Ratings: | Moody’s: Aa2
|
|
|
| Equity
|
| Amount: | $100 million
|
| Securities: | Preferred shares
|
| Ratings: | Non-rated
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
