New AAAs mixed; PineBridge taps market; Prudential in pipeline; THL closes on sixth CLO

By Cristal Cody

Tupelo, Miss., Jan. 29 – U.S. CLO AAA notes have priced in January as tight as Libor plus 140 basis points and as wide as Libor plus 160 bps, according to a market source.

“Some [new issue] spreads are wider,” the source said.

CLO manager 3i Debt Management U.S. LLC priced an upsized $759.8 million CLO, the Jamestown CLO VI Ltd./Jamestown CLO VI Corp. offering, via Citigroup Global Markets Inc. and placed the AAA notes at Libor plus 160 bps.

GC Investment Management LLC sold $404.75 million of notes in the Golub Capital Partners CLO 22 (B) Ltd./Golub Capital Partners CLO 22 (B) LLC deal. The AAA tranche priced at Libor plus 140 bps. J.P. Morgan Securities LLC arranged the transaction.

In new pricing action, PineBridge Investments LLC sold $510 million of notes due 2027 in the Galaxy XIX CLO Ltd./Galaxy XIX CLO LLC transaction, a source said. Citigroup was the placement agent. Final pricing details were not available by press time.

Coming up in the deal pipeline, Prudential Investment Management, Inc. plans to price $509.05 million of notes due April 15, 2027, a source said.

Separately, THL Credit Senior Loan Strategies LLC, a subsidiary of THL Credit Advisors LLC, announced that it closed Thursday on the $408.68 million THL Credit Wind River 2014-3 CLO Ltd./THL Credit Wind River 2014-3 CLO LLC transaction.

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