December volume climbs; CELF, Sankaty tap Europe; Carlyle, Oak Hill price U.S. CLOs

By Cristal Cody

Tupelo, Miss., Dec. 22 – December deal action in the U.S. and European CLO primary markets has been active with more than $5 billion of supply brought over the month.

Sankaty Advisors, Ltd. priced a €417.05 million CLO transaction.

CELF Advisors LLP tapped the European market with a €517 million deal.

The euro-denominated market also saw a transaction from Banco Bilbao Vizcaya Argentaria, SA, which priced a €780 million SME CDO.

Back in the U.S. market, Carlyle Investment Management LLC brought $406.85 million of notes in its fifth CLO deal of the year.

Oak Hill Advisors LP returned to the primary market for the third time this year with a $606 million CLO offering.

Sankaty Advisors priced €417.05 million of notes due Jan. 15, 2029 in the Newhaven II CLO Designated Activity Co. deal, according to a market source.

The CLO sold €241.2 million of class A senior secured floating-rate notes (Aaa//AAA expected) at 99.75 with a spread of Euribor plus 145 basis points.

Barclays Bank plc was the placement agent.

The Boston-based alternative investment firm is a unit of Bain Capital LLC.

CELF Advisors priced a €517 million CLO offering of notes due Jan. 15, 2029 via Morgan Stanley & Co. LLC, according to a market source.

Carlyle Global Market Strategies Euro CLO 2015-3 D.A.C. printed €285 million of class A-1 senior secured floating-rate notes (Aaa/AAA) at Euribor plus 150 bps at the top of the capital stack.

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