FORT WORTH, Texas, April 26, 2018 /PRNewswire/ -- Crestline Investors, Inc., an institutional alternative investment management firm, today announced the refinancing, through its Crestline Denali Capital unit, of all $361.0 million of rated securities of Denali Capital CLO XII, Ltd., a CLO fund under its management. The refinancing resulted in a three-year extension of the fund's reinvestment period to April 2023, and an extension of the fund's legal final maturity to April 2031.
The refinancing substantially lowered the fund's borrowing costs and also established new portfolio criteria that are more in line with current syndicated loan market conditions, both of which will benefit the fund and its investors. The fund continues to be compliant with both U.S. and European risk retention regulations.
"We are pleased, on behalf of the fund's investors, to complete the refinancing of Denali CLO XII," said John Thacker, Senior Managing Director of Crestline Denali Capital. "We appreciate the continued support of our parent, Crestline Investors, in providing incremental capital to the fund so as to maintain compliance with risk retention regulations. We look forward to managing the fund through its newly extended five-year reinvestment period and beyond."
About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm that specializes in credit and opportunistic investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund, and provides beta and hedging Solutions for institutional clients. Headquartered in Fort Worth, Texas, the company maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo. For more information, please visit www.crestlineinvestors.com.
About Crestline Denali Capital, L.P.
Crestline Denali Capital, formed in October 2014 as a partnership between Crestline Investors and Denali Capital LLC, is a specialized asset management company located in Oak Brook, Illinois. The company manages portfolios of leveraged commercial loans and related assets on behalf of its investors. The company is an active investor across a broad spectrum of the syndicated leveraged loan market.
SOURCE Crestline Investors, Inc.