Chicago, April 8 – TCI Capital Management II LLC is refinancing one class of notes from the vintage TCI-Flatiron CLO 2017-1 Ltd. collateralized loan obligation, according to a notice.
The refinanced notes, still due, Nov. 18, 2030, will be the $320 million of class A-R senior secured floating-rate notes at Libor plus 96 basis points and there will also be $500,000 of income notes.
Collateral for the notes must mostly come from broadly syndicated senior secured corporate loans.
TCI Capital Management II LLC will continue to manage the collateral.
Five other classes of secured notes and one class of subordinated notes will remain outstanding.
TCI Capital is a subsidiary of Saint Peter Port, Guernsey-based closed-ended investment company Tetragon Financial Group Ltd. and an affiliate of LCM Asset Management LLC.
| Issuer: | TCI-Flatiron CLO 2017-1 Ltd.
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| Issue: | Floating-rate notes and income notes
|
| Structure: | Cash flow CLO
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| Amount: | $320.5 million
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| Maturity: | Nov. 18, 2030
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| Manager: | TCI Capital Management II LLC
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| Announcement date: | April 6
|
|
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| Class A-R notes
|
| Amount: | $320 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 96 bps
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| Rating: | Moody's: Aaa
|
|
|
| Income notes
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| Amount: | $500,000
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| Securities: | Income notes
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| Rating: | Moody's: Unrated
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