Chicago, April 28 – Palmer Square Capital Management LLC refinanced four classes of notes from the Palmer Square Credit Funding 2019-1 Ltd./Palmer Square Credit Funding 2019-1 LLC transaction, according to a notice.
The CLO repriced $36 million of class B-R 3.2% senior secured fixed-rate notes, $18 million of class C-R 3.65% mezzanine secured deferrable fixed-rate notes, $10.25 million of class D-R 5.46% mezzanine secured deferrable fixed-rate notes and $13.75 million of class E 7.11% junior secured deferrable fixed-rate notes.
The notes mature on April 20, 2037.
Palmer Square Capital Management is the collateral manager during the remaining reinvestment period.
Collateral for the notes can primarily come from second-lien loans, unsecured loans, bonds, subordinated bonds and unsecured bonds.
Palmer Square Capital is an investment management firm based in Leawood, Kan.
| Issuers: | Palmer Square Credit Funding 2019-1 Ltd./Palmer Square Credit Funding 2019-1 LLC
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| Issue: | Fixed-rate notes
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| Structure: | Cash flow CLO
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| Amount: | $78 million
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| Maturity: | April 20, 2037
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| Manager: | Palmer Square Capital Management LLC
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| Announcement date: | April 20
|
|
|
| Class B-R notes
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| Amount: | $36 million
|
| Securities: | Senior secured fixed-rate notes
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| Coupon: | 3.2%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C-R notes
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| Amount: | $18 million
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| Securities: | Mezzanine secured deferrable fixed-rate notes
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| Coupon: | 3.65%
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| Rating: | Moody's: A2
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|
|
| Class D-R notes
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| Amount: | $10.25 million
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| Securities: | Mezzanine secured deferrable fixed-rate notes
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| Coupon: | 5.46%
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| Rating: | Moody's: Baa2
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|
|
| Class E notes
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| Amount: | $13.75 million
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| Securities: | Junior secured deferrable fixed-rate notes
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| Coupon: | 7.11%
|
| Rating: | Moody's: Ba2
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