Ares Capital unit ADL CLO 1 issues $483.1 million July 2038 CLO notes, adds $139 million term loan in reset transaction - ARCC News | RalliesAres Capital unit ADL CLO 1 issues $483.1 million July 2038 CLO notes, adds $139 million term loan in reset transaction
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ARCC• ADL CLO 1 reset transaction details
- Ares Capital refinanced ADL CLO 1 with a $483.1 million issuance of July 2038 CLO Notes.
- The deal included $267 million Class A-1-R notes at Term SOFR + 1.46% and $24.5 million Class A-2-R notes at Term SOFR + 1.7%.
- It also issued $45.5 million Class B-R notes at Term SOFR + 1.9% and $232.7 million Subordinated Notes due July 2038.
- ADL CLO 1 also raised $139 million of Class A-1-LR term loans at Term SOFR + 1.46%, maturing July 25, 2038.
- Proceeds redeemed $476 million of existing 2036 Class A and Class B senior secured floating rate notes, funded accounts and paid fees.
