CIFC Asset Management and Alcentra NYC are marketingcollateralized loan obligations totaling over $1.1 billion this week, according to Standard & Poor’s.
S&P has assigned a preliminary AAA’ rating to CIFC Funding 2014-III Ltd.’s $437.50 million class-A notes, which are being marketed at LIBOR plus 149 basis points. These notes are the only class of eight tranches totaling $723 million to be rated by S&P.
The arranger is BNP Paribas Securities Corp.
CIFC has 28 other CLOs under management that are rated by S&P, with assets totaling $10.83 billion.
The deal has a four-year reinvestment period and is non-callable for two years.
S&P will rate six tranches to be issued by Alcentra’s $415 million Shackleton 2014-VI CLO, including the $250 million of class-A notes, which have been assigned a preliminary AAA’ rating. They are being marketed at LIBOR plus 150 basis points.
Merrill Lynch, Pierce, and Fenner & Smith is theinitial purchaser.
Shackleton 2014-VI CLO also has a four-year reinvestment period and is non-callable for two years.
Alcentra has 13 other S&P-rated CLOs with total assets of $4.03 billion.
