Natixis Acts as Sole Lead Arranger for $800 million CLO

New York, État de New York, États-Unis, May 7, 2014

Largest middle market CLO debt issuance in 2014 and 1 of the largest CLOs in the last 5 years; Increased by $200 million

Natixis announced today that it acted as Sole Lead Arranger for an $800 million CLO for Fortress Credit Opportunities III CLO LP. The notes are backed by a revolving pool consisting primarily of US dollar-denominated middle-market senior secured loans.

 

Kevin Alexander, Global Head of Structured Credit & Solutions at Natixis, said, “Natixis was delighted to arrange, structure and place this CLO for a longtime client, Fortress Investment Group. We continue to foster a very strategic relationship with Fortress and we are pleased with the market reception of a unique transaction.”

 

Fortress Investment Group LLC (NYSE: “FIG”) is a leading, highly diversified global investment manager with approximately $61.8 billion of assets under management as of December 31, 2013.

 

The pricing details are as follows:

 

                          MANAGER:              FCO III CLO GP LLC

                          ASSET TYPE:            Primarily USD Senior Secured Loans

                          DEAL SIZE:             $800 million

                          ARRANGER:             Natixis Securities Americas LLC

 

Class

Notional Amount ($)

% of Amount Notional

Rating (Moody's / S&P)

Coupon

A-1R

100,000,000

12.50%

Aaa(sf) / AAA(sf)

CP + 2.00%

A-1T

228,000,000

28.50%

Aaa(sf) / AAA(sf)

3mL + 1.90%

A-2T

40,000,000

5.00%

Aaa(sf) / AAA(sf)

3mL + 1.65%*

B-1

20,000,000

2.50%

NR / AA(sf)

3mL + 2.50%

B-2

68,000,000

8.50%

NR / AA(sf)

4.985%

C

64,000,000

8.00%

NR / A(sf)

3mL + 3.25%

D

56,000,000

7.00%

NR / BBB(sf)

3mL + 4.25%

E

48,000,000

6.00%

NR / BB(sf)

3mL + 6.25%

Equity

176,000,000

22.00%

NR

 

Total

800,000,000

100.00%

 

 

 

NON CALL PERIOD: 2 years

REINVESTMENT PERIOD: 3.5 years

LEGAL FINAL MATURITY: 12 years

PRICE DATE: April 2, 2014

SETTLE DATE: April 28, 2014

PAYMENT FREQUENCY: Quarterly, starting on October 7, 2014

NOTES: Rule 144A / Reg S

*The spread over 3mL for the Class A-2T Notes will be (a) 1.65% from the Closing Date to but excluding the Quarterly Distribution Date in April 2016 and (b) unless a Re-Pricing has occurred, 2.25% thereafter.

PLEASE NOTE ANY DECISION TO INVEST IN THE SECURITIES DESCRIBED HEREIN SHOULD BE MADE AFTER REVIEWING THE FINAL OFFERING MEMORANDUM IN ITS ENTIRETY (INCLUDING THE RISK

FACTORS THEREIN) IN CONNECTION WITH SUCH SECURITIES, CONDUCTING SUCH INVESTIGATIONS AS THE

INVESTOR DEEMS NECESSARY AND CONSULTING THE INVESTOR’S OWN LEGAL, ACCOUNTING AND TAX ADVISORS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT IN THE SECURITIES. 

Contacts