NEW YORK, April 17, 2012 – In the largest broadly syndicated or middle market CLO closed this year, Cerberus Business Finance LLC announced today that it has priced an $833 million CLO, A5 Funding L.P. which will support Cerberus’ middle-market loan origination platform. The transaction is expected to close on Friday, April 27, 2012.
Natixis served as Placement, Structuring and Administrative Agent.
The transaction has a one-year-reinvestment period and a non-call period of two years. The capital structure is as follows:
TRANCHE SIZE ($MM) COUPON MOODY’S RATING
Class A Revolver 95.85 3mL + 275 Aaa
Class A Term Notes 300.00 3mL + 250 Aaa
Class B Term Notes 68.75 3mL + 500 A2
Class C Term Notes 35.4 3mL + 600 Baa2
Equity 333.33 Residual N/A
Total 833.33
Kevin Genda, Vice Chairman of Cerberus Business Finance, said, “The A5 securitization is another successful financing for the Cerberus Business Finance platform and we expect to have an additional issuance in the coming months. The market environment provides attractive opportunities for the Cerberus direct lending business and we value the relationship with Natixis.”
Kevin Alexander, Head of Global Structured Credit & Solutions for Natixis, said, “Cerberus’ corporate lending team has been a valued client of Natixis for more than eight years, and we are pleased to have once again worked with them to develop an attractive financing solution that matches their objectives.”
About Cerberus Capital Management, L.P.
Established in 1992, Cerberus Capital Management, L.P. is one of the world’s leading private investment firms. Cerberus has approximately US $20 billion under management invested in four primary strategies: distressed securities & assets (mortgage-based securities, corporate debt, non-performing loans, structured loans); Operational & Equity Investments; commercial mid-market lending and real estate-related investments.
About Natixis
Natixis is the corporate, investment and financial services arm of BPCE, the 2nd-largest banking group in France with 21% of total bank deposits and 36 million clients spread over two networks, Banque Populaire and Caisse d’Epargne.
Natixis Global Structured Credit & Solutions is a unified platform providing financing, advisory, and securitization services worldwide, including all phases of origination, structuring and distribution of CLOs or structured loans and related financing facilities.
With around 22,000 employees, Natixis has a number of areas of expertise which are organized in three main business lines: Corporate and Investment Banking, Investment Solutions (asset management, private banking, insurance and private equity) and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of BPCE’s two retail banking networks.
Listed on the Paris stock exchange, it has a solid financial base with total Core Tier 1 capital of €12.1 billion, a Core Tier 1 ratio of 10.2% and quality long-term ratings (Standard & Poor’s: A / Moody’s: Aa3 / Fitch Ratings: A+).
Contacts:
Peter Duda or John Dillard
Cerberus Capital Management
(212) 445-8213 or (212) 445-8052
Cerberus Media Line:
(212) 891-155
Mitch Karig
Natixis US CIB
(212) 891-1882
[email protected]
