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Jun 12, 2012

RLPC: CSAM sets price guidance on $518M CLO

NEW YORK, June 12 (Reuters) – Goldman Sachs has outlined
price talk on a $518 million collateralized loan obligation
(CLO) it is marketing for Credit Suisse Asset Management (CSAM)
, sources told Thomson Reuters LPC. This is CSAM’s second
CLO this year.

The CLO, which is called Madison Park Funding IX Ltd,
includes a $320 million AAA tranche guided at a coupon of
140-145bp over Libor and a DM of 145-150 over Libor; a $55
million AA tranche guided at a coupon of 250bp over Libor and a
DM of 300-310bp over Libor; a $36 million A tranche guided at a
coupon of 325bp over Libor and a DM of 400-415bp over Libor; a
$29 million BBB tranche guided at a coupon of 425bp over Libor
and a DM of 600-625bp over Libor; a $22 million BB tranche
guided at a coupon of 525bp over Libor and a DM of 825-850bp
over Libor; and a $56 million equity tranche.

Jun 11, 2012

RLPC: Savers sets launch of $730M LBO loan

NEW YORK, June 11 (Reuters) – Goldman Sachs is launching at
10 a.m. Wednesday a $730 million loan backing Savers Inc’s
leveraged buyout by a group of private equity firms,
sources told Thomson Reuters LPC.

The deal includes a $75 million, five-year revolver and a
$655 million, seven-year covenant-lite term loan. Commitments to
the loan will be due June 27, with closing and funding slated
for July 9.

Jun 8, 2012

RLPC: Carlyle prices $510M CLO

NEW YORK, June 8 (Reuters) – JP Morgan has priced a $510
million collateralized loan obligation (CLO) for Carlyle
Investment Management, sources told Thomson Reuters LPC.
This is Carlyle’s second CLO this year.

The CLO, which is called Carlyle Global Market Strategies
CLO 2012-2, includes a $310 million Aaa/AAA tranche priced at a
coupon of 147bp over Libor; a $13 million Aaa/AAA fixed-rate
tranche priced at 2.62 percent; a $35 million AA tranche priced
at a coupon of 300bp over Libor; a $20 million AA fixed-rate
tranche priced at 4.37 percent; a $30 million A tranche priced
at a coupon of 300bp over Libor; a $7.5 million A fixed-rate
tranche priced at 4.71 percent; a $24 million BBB tranche priced
at a coupon of 470bp over Libor; a $23 million BB tranche priced
at a coupon of 625bp over Libor; and a $47.5 million equity
tranche.

Jun 8, 2012

RLPC: Kronos scraps dividend, makes changes

NEW YORK, June 8 (Reuters) – Kronos Worldwide Inc
has made a second round of investor-friendly changes after
increasing the rate and tightening the amortization language on
its term loan B late last week, sources told Thomson Reuters
LPC.

The issuer has reduced its term loan B to $400 million from
$600 million, while also shortening the tenor on the facility to
six years from seven years. Additionally, Kronos has scrapped
plans to issue a dividend and to repay a European revolver.

Jun 7, 2012

RLPC: Babson prices $406.85M CLO

NEW YORK, June 7 (Reuters) – Citigroup has priced a $406.85
million collateralized loan obligation (CLO) for Babson Capital
Management, sources told Thomson Reuters LPC. This is
Babson’s second CLO this year.

The CLO, which is called Babson CLO Ltd 2012-II, includes a
$255 million Aaa/AAA tranche priced at par to yield 140bp over
Libor; a $42 million AA tranche priced at a coupon of 250bp over
Libor and a DM of 260bp over Libor; a $32 million A tranche
priced at a coupon of 300bp over Libor and a DM of 375bp over
Libor; a $22 million BBB tranche priced at a coupon of 425bp
over Libor and a DM of 600bp over Libor; an $18 million BB
tranche priced at a coupon of 525bp over Libor and a DM of 785bp
over Libor; and a $37.85 million equity tranche.

Jun 6, 2012

RLPC: GSO Blackstone shops $511.96M CLO

NEW YORK, June 6 (Reuters) – Citigroup is marketing a
$511.96 million collateralized loan obligation (CLO) for GSO
Blackstone Debt Funds Management LLC, sources told
Thomson Reuters LPC.

The CLO, which is called Gramercy Park CLO, includes a
$329.3 million Aaa/AAA tranche; a $33.7 million AA tranche; a
$42.5 million A tranche; a $23.75 million BBB tranche; a $27.5
million BB tranche; and a $55.21 million equity tranche. The CLO
will have a ramp-up period of five months after its closing,
meaning it will have five months after closing to purchase loan
assets.

May 23, 2012

RLPC: Carlyle outlines guidance on $513.35M CLO

NEW YORK, May 23 (Reuters) – JP Morgan outlined price
guidance on a $513.35 million collateralized loan obligation
(CLO) it is marketing for Carlyle Investment Management,
sources told Thomson Reuters LPC.

The CLO, which is called Carlyle Global Market Strategies
CLO 2012-2, includes a $323 million Aaa/AAA tranche guided in
the 133bp over Libor area on a DM basis; a $55 million AA
tranche guided in the 250bp over Libor area on a DM basis; a
$37.5 million A tranche guided in the 375bp over Libor area on a
DM basis; a $24 million BBB tranche guided in the 575bp over
Libor area on a DM basis; a $23 million BB tranche guided in the
775bp over Libor area on a DM basis; and a $50.85 million equity
tranche.

May 22, 2012

RLPC: Misys sets revisions on buyout loan

NEW YORK, May 22 (Reuters) – London-based financial software
provider Misys Plc has revised the terms of its buyout
loan, sources told Thomson Reuters LPC.

The issuer’s first-lien loan now includes a $125 million,
five-year revolver, a $945 million term loan and a 100 million
euro term loan.

May 18, 2012

RLPC: Formula One prices loan, adds ticking fee

NEW YORK, May 18 (Reuters) – Formula One has
priced its $1.3 billion institutional term loan B at 350bp over
Libor with a 1 percent Libor floor and a discount of 98 cents on
the dollar, sources told Thomson Reuters LPC.

The issuer has also added a 100bp annual ticking fee, which
is to be paid from the loan’s allocation date till its closing
date or cancellation. Formula One will pay the fee whether or
not it lists its initial public offering (IPO). The maximum
amount of the payment is capped at around $1.6 million.

May 17, 2012

RLPC: Formula One loan gets $200M anchor order

NEW YORK, May 17 (Reuters) – Formula One’s new
refinancing loan has drawn an anchor order of $200 million from
an institutional account at 350bp over Libor with a 1 percent
Libor floor and a discount of 98 cents on the dollar, buyside
sources told Thomson Reuters LPC. The loan also has 101 soft
call protection.

Meanwhile, investors are asking Formula One to pay them the
101 call protection on the existing loan in exchange for rolling
into the new loan. Formula One is trying to get around paying
the call premium, saying that it does not apply to repricings in
connection with an initial public offering (IPO), according to
several investors looking at the deal.