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Hildene refinances $243.8 million CDO; BlackRock, Alcentra refinance CLO notes
By Cristal Cody
Tupelo, Miss., Oct. 27 – In new refinancing activity, three managers repriced notes from vintage CLO and CDO deals.
Hildene Structured Advisors, LLC priced $243,875,000 of notes in a refinancing of a bank credit collateralized loan securitization.
Alcentra NY, LLC brought a $30.45 million partial refinancing of a CLO issued in 2018 to the market.
BlackRock Financial Management, Inc. refinanced $12.96 million of notes in a third partial refinancing of a vintage 2015 CLO deal.
CLO managers have refinanced more than $30 billion of vintage CLO notes year to date.
The new issue space has seen nearly $70 billion of volume so far this year, market sources said.
In its deal, Hildene Structured Advisors priced $243,875,000 of notes due Nov. 1, 2035 in the refinancing of a bank credit collateralized loan securitization previously known as Community Funding CLO, Ltd., according to market sources.
Hildene Community Funding CDO, Ltd. sold $198,625,000 of 3.25% class A-R senior secured fixed-rate notes in the senior tranche.
Separately, Alcentra NY priced $30.45 million of notes due April 14, 2031 in the partial CLO refinancing, according to market sources.
Shackleton 2013-IV-R CLO, Ltd./Shackleton 2013-IV-R CLO LLC sold $15.7 million of 1.92% class A-1b-R senior secured fixed-rate notes at the top of the capital structure.
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