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Carlyle prices $613.45 million CLO in second new deal of 2017; secondary trading picks up
By Cristal Cody
Tupelo, Miss., May 26 – Carlyle Investment Management LLC subsidiary Carlyle CLO Management LLC priced a $613.45 million CLO in the manger’s second new deal of the year.
Carlyle sold nine tranches of notes in the transaction, according to a market source on Friday.
More than $27 billion of new CLOs have priced year to date, while more than $76 billion of vintage CLOs have refinanced in 2017.
In other activity, secondary market volume picked up on Thursday in the securitized market.
The session had $107.91 million of high-grade volume and $262.67 million of non-investment-grade volume, Trace reported.
High-grade CBO/CDO/CLO secondary market volume was thin in the previous two sessions with $6.75 million traded on Wednesday and $43.31 million traded on Tuesday.
In non-investment-grade CBO/CDO/CLO secondary trading, volume totaled $120.59 million on Wednesday and about $284.9 million on Tuesday.
Carlyle prices CLO 2017-2
Carlyle CLO Management priced $613.45 million of notes due July 20, 2031 in the new broadly syndicated CLO transaction via Citigroup Global Markets Inc., according to a market source.
Carlyle US CLO 2017-2 Ltd./Carlyle US CLO 2017-2 LLC sold $104.5 million of class A-1A floating-rate notes at Libor plus 129 bps.
Proceeds from the deal will be used to purchase a portfolio of about $600 million of mostly senior secured leveraged loans.
Carlyle has priced two new CLOs and refinanced three vintage CLOs year to date.
The asset management firm and affiliate of Washington, D.C.-based Carlyle Group priced four new U.S. CLOs and refinanced five vintage CLOs in 2016.
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