Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for MidOcean Credit Fund Management LP > News item |
Birch Grove prices $403.05 million new CLO: MidOcean refinances $368 million notes
By Cristal Cody
Tupelo, Miss., May 15 – In new CLO issuance in May, Birch Grove Capital LP priced $403.05 million of notes in the manager’s first CLO transaction.
Meanwhile, MidOcean Credit Fund Management LP sold $368 million of notes in a refinancing of a vintage 2016 deal.
So far this year, about $40 billion of broadly syndicated CLOs have priced and more than $13 billion of CLOs have been refinanced or reissued year to date, according to a BofA Merrill Lynch report.
In its deal, Birch Grove Capital priced $403.05 million of notes due June 15, 2031 in the debut Birch Grove CLO Ltd./Birch Grove CLO LLC transaction, according to market sources.
The CLO sold $256 million of the class A floating-rate notes (//AAA) at Libor plus 149 basis points.
Separately, MidOcean Credit Fund Management priced $368 million of notes due Jan. 20, 2029 in a refinancing of a vintage 2016 broadly syndicated CLO transaction, according to a market source and a notice of revised proposed second supplemental indenture on Tuesday.
MidOcean Credit CLO VI/MidOcean Credit CLO VI LLC sold $242 million of the class A-R floating-rate notes (Aaa expected) at Libor plus 125 bps.
The original $402.7 million transaction was priced Nov. 8, 2016 and issued Dec. 20, 2016 via Jefferies LLC.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.