Guggenheim prices $877.1 million CLO; Voya, TIAA sell CLOs; Angelo, Gordon, BNP refinance

By Cristal Cody

Tupelo, Miss., March 21 – While refinancing action remains strong in the CLO space, new deals are getting done, according to details from market sources.

Guggenheim Partners Investment Management LLC priced $877.1 million of notes in the new Mercer Fields II CLO LP offering.

Voya Alternative Asset Management LLC priced $513 million of notes in a new deal.

Also, TIAA Advisory Services LLC priced $454.85 million of notes in a new CLO transaction.

CLO managers have priced about $14 billion of new CLOs year to date, according to market sources.

In the refinancing space, Angelo, Gordon & Co., LP refinanced $493.8 million of notes from a vintage CLO.

BNP Paribas Asset Management SAS refinanced €247.5 million of notes in a euro-denominated CLO.

Year to date, about €5 billion of European CLOs and $36 billion of U.S. CLOs have been refinanced, according to J.P. Morgan Securities LLC.

In its deal, Guggenheim Partners Investment Management priced $877.1 million of notes in the Mercer Fields II CLO offering via Citigroup Global Markets Inc., according to a market source.

The CLO sold $560 million class A-1 floating-rate notes at Libor plus 133 basis points at the top of the capital structure.

The investment management firm and subsidiary of Guggenheim Partners, LLC is based in Santa Monica, Calif.

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