Guggenheim brings $995 million CLO, fifth deal in 2015; CIFC closes CLO offering

By Cristal Cody

Tupelo, Miss., Nov. 25 – Total broadly syndicated and middle-market CLO issuance climbed to more than $102 billion year to date following a $995 million deal from Guggenheim Partners Investments Management, LLC.

Guggenheim Partners Investments Management printed its fifth CLO offering of the year, a $994,725,000 transaction. The AAA-rated tranche priced at Libor plus 170 basis points.

In other market activity, CIFC Corp. announced the closing of the $510.5 million CIFC Funding 2015-V, Ltd. deal.

“The transaction was led by Credit Suisse Securities (USA) LLC and supported by 14 institutional investors, five of which were first-time investors with CIFC,” CIFC said in the release.

The CLO priced on Oct. 30 and placed the $320 million tranche of class A-1 floating-rate notes at Libor plus 155 bps.

Subsidiary CIFC Asset Management LLC is the CLO manager.

CIFC Asset Management has priced five CLOs and refinanced one vintage CLO deal year to date.

Guggenheim Partners Investments Management sold $994,725,000 of notes due Nov. 25, 2027 in the 5180-2 CLO LP transaction, according to a market source.

The CLO priced $603.3 million of class A-1 senior secured floating-rate notes at Libor plus 170 bps, $84.6 million of class A-2A senior secured floating-rate notes at Libor plus 275 bps and $25 million of class A-2B senior secured floating-rate notes at Libor plus 255 bps at the top of the capital structure.

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