Alcentra taps Europe; Blackstone, Investcorp refinance; MidOcean prices CLO

By Cristal Cody

Tupelo, Miss., Nov. 12 – The European CLO market remains active with new issuance and refinancing transactions.

Alcentra Ltd. priced €409.2 million of notes in the new Jubilee CLO 2019-XXIII BV transaction, according to a market source. Morgan Stanley & Co. International plc was the placement agent.

Final pricing details were not immediately available.

Meanwhile, Blackstone/GSO Debt Funds Management Europe Ltd. priced €376 million of notes in a second refinancing of a vintage 2014 European CLO.

In addition, Investcorp Credit Management EU Ltd. sold €425.15 million of notes in a refinancing of a vintage 2017 euro-denominated deal.

Looking at dollar-denominated issuance in November, MidOcean Credit Fund Management LP priced a $402.65 million CLO in the manager’s first new deal of the year.

The CLO manager last came to the market in May with a refinancing of the MidOcean Credit CLO VI/MidOcean Credit CLO VI LLC vehicle.

In its deal, Blackstone/GSO Debt Funds Management Europe priced €376 million of notes in a second refinancing of the vintage 2014 Holland Park CLO DAC transaction, according to a market source and a notice on Tuesday.

The CLO sold €250 million of the class A-1 senior secured floating-rate notes at Euribor plus 92 basis points.

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