Chicago, June 7 – Carlson CLO Advisers LLC sold $409.5 million of notes due April 25, 2034 in a collateralized loan obligation transaction issued by Cathedral Lake VI Ltd./Cathedral Lake VI LLC, according to a pre-sale report.
The maturity date is April 25, 2034.
The transaction includes $4 million of class X senior secured floating-rate notes at Libor plus 100 basis points, $174 million of class A-L senior secured floating-rate notes at Libor plus 125 bps, $61 million of class A-N senior secured floating-rate notes at Libor plus 125 bps, $25 million of class A-F 2.44% senior secured fixed-rate notes and $44 million of class B senior secured floating-rate notes at Libor plus 195 bps.
Lower, there are $9 million of class C-1 senior secured deferrable floating-rate notes at Libor plus 254 bps, $2.1 million of class C-2A senior secured deferrable floating-rate notes at Libor plus 215 bps, $11.9 million of class C-2B senior secured deferrable floating-rate notes at Libor plus 261 bps, $25 million of class D senior secured deferrable floating-rate notes at Libor plus 372 bps and $16 million of class E senior secured deferrable floating-rate notes at Libor plus 721 bps.
There are also $37.5 million of subordinated notes.
Jefferies LLC is the initial purchaser.
Carlson is the collateral manager of a pool that mostly consists of broadly syndicated speculative-grade senior secured term loans.
The reinvestment period ends April 25, 2026.
There are two years of call protection.
The Dallas-based alternative asset management firm is a subsidiary of Carlson Capital LP.
| Issuers: | Cathedral Lake VI Ltd./Cathedral Lake VI LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $409.5 million
|
| Maturity: | April 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies LLC
|
| Manager: | Carlson CLO Advisers LLC
|
| Call feature: | April 25, 2023
|
| Settlement date: | May 26
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 100 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-L notes
|
| Amount: | $174 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-N notes
|
| Amount: | $61 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 125 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class A-F notes
|
| Amount: | $25 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.44%
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-1 notes
|
| Amount: | $9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 254 bps
|
| Rating: | S&P: A
|
|
|
| Class C-2A notes
|
| Amount: | $2.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | S&P: AA-
|
|
|
| Class C-2B notes
|
| Amount: | $11.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 261 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 372 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 721 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $37.5 million
|
| Securities: | Subordinated notes
|
|
|
© 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.
