Chicago, Feb. 3 – LCM EURO LLC sold $514.3 million in a collateralized loan obligation issued by LCM 35 Ltd., according to multiple notices.
The notes will mature on Oct. 16, 2034.
The CLO consists of $300 million of class A-1 senior secured floating-rate notes at Libor plus 115 basis points, $25 million of class A-2 senior secured floating-rate notes at Libor plus 140 bps, $55 million of class B senior secured floating-rate notes at Libor plus 165 bps, $30 million of class C deferrable mezzanine floating-rate notes at Libor plus 205 bps, $30 million of class D deferrable mezzanine floating-rate notes at Libor plus 340 bps, $20 million of class E deferrable mezzanine floating-rate notes at Libor plus 661 bps, $4 million of income notes and $50.3 million of subordinated notes.
LCM EURO LLC will manage the collateral through the end of the 4.9-year reinvestment period.
Collateral consists of first-lien senior secured leveraged loans.
Natixis Securities Americas LLC was the placement agent.
The New York City-based asset management firm is a subsidiary of Tetragon Financial Group Ltd.
LCM EURO is an affiliate of LCM Asset Management LLC.
| Issuer: | LCM 35 Ltd.
|
| Issue: | Floating-rate notes, subordinated notes and income notes
|
| Amount: | $514.3 million
|
| Maturity: | Oct. 16, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | LCM EURO LLC
|
| Settlement date: | Dec. 9
|
|
|
| Class A-1 notes
|
| Amount: | $300 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $55 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | Libor plus 661 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Income notes
|
| Amount: | $4 million
|
| Securities: | Income notes
|
|
|
| Subordinated notes
|
| Amount: | $50.3 million
|
| Securities: | Subordinated notes
|
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