BlackRock brings AAAs at Libor plus 150 bps; Carlyle sells $669.5 million; Oaktree prices

By Cristal Cody

Tupelo, Miss., Feb. 25 – CLO managers brought $1.77 billion in new transactions, according to market sources on Wednesday.

BlackRock Financial Management, Inc. priced a $608.83 million CLO deal.

Carlyle Investment Management LLC sold $669.5 million of notes in the Carlyle Global Market Strategies CLO 2015-1, Ltd./Carlyle Global Market Strategies CLO 2015-1 LLC transaction.

Oaktree Capital Management, LP priced a $495.96 million offering.

Also in the primary market, CIFC Asset Management LLC brought an upsized $614 million of notes due 2027 in the CIFC Funding 2015-I, Ltd./CIFC Funding 2015-I, LLC vehicle, a source said. The transaction via BNP Paribas Securities Corp. was upsized from $563,125,000. Final pricing details were not available by press time.

U.S. CLO issuance year to date climbed to about $12.21 billion with more deals expected to price before the month closes, according to market sources and data compiled by Prospect News.

Deals in the pipeline include BlueMountain Capital Management LLC’s $506.7 million BlueMountain CLO 2015-1 Ltd./BlueMountain CLO 2015-1 LLC transaction via Citigroup Global Markets Inc.

Crestline Denali Capital, LP also is offering $413.7 million of notes in the Denali Capital CLO XI, Ltd./Denali Capital CLO XI, LLC transaction via Natixis Securities Americas LLC.

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