CIFC prices $443.8 million CLO; GoldenTree prints $442.55 million; primary AAAs firm

By Cristal Cody

Tupelo, Miss., Aug. 5 – Two CLO managers brought their second dollar-denominated CLO offerings of the year to the primary market.

CIFC Asset Management LLC priced $443.8 million of new CLO notes following the closing of its first broadly syndicated CLO transaction of the year on July 29.

The CLO manager priced the senior tranche in the latest offering 5 basis points tighter than where the senior tranche in the CIFC Funding 2020-I, Ltd./CIFC Funding 2020-I, LLC deal came in July.

GoldenTree Loan Management LP sold $442.55 million of notes in its newest broadly syndicated CLO offering, the manager’s second dollar-denominated deal of the year.

GoldenTree Loan Management priced the AAA-rated tranche 35 bps tighter than where its first senior issue came in the GoldenTree Loan Management US CLO 7 Ltd./GoldenTree Loan Management US CLO 7 Inc. transaction that closed on May 8.

About $44 billion of dollar-denominated CLOs have priced year to date, market sources report.

In its deal, CIFC Asset Management priced $443.8 million of notes due Aug. 24, 2032 in the CLO deal, according to a market source.

CIFC Funding 2020-II, Ltd./CIFC Funding 2020-II, LLC sold $262 million of class A-1 floating-rate notes at Libor plus 165 bps at the top of the capital structure.

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