Spire prices; Voya brings $612.5 million CLO; Invesco places AAAs at Libor plus 151 bps

By Cristal Cody

Tupelo, Miss., March 4 – Spire Partners, LLP tapped the European CLO market with a €308.77 million deal, bringing year to date euro-denominated issuance to €2.3 billion from six deals, according to a market source and data compiled by Prospect News.

The Spire CLO priced the AAA-rated tranche of notes at Euribor plus 130 basis points.

CLO managers are forecast to bring €20 billion to €25 billion of issuance in 2015.

In the U.S. market, Voya Alternative Asset Management LLC brought a $612.5 million offering and placed the AAA notes at Libor plus 148 bps, according to a source.

Details also emerged for Invesco Senior Secured Management, Inc.’s upsized $618 million Betony CLO Ltd./Betony CLO LLC offering. The CLO priced the AAA tranche at Libor plus 151 bps, a market source said.

More than $15 billion of CLOs have priced year to date, according to the data.

Spire Partners sold €308.77 million of notes due April 26, 2029 in a seven-part euro-denominated CLO deal, according to a market source.

Aurium CLO I Ltd. priced €179.5 million of class A senior secured floating-rate notes at Euribor plus 130 bps at the top of the capital structure.

The CLO sold $10.75 million of class F senior secured deferrable floating-rate notes at Euribor plus 665 bps at the bottom of the capital stack.

Deutsche Bank AG, London Branch arranged the offering.

© 2015 Prospect News.
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