Pricing emerges for CLOs managed by Barings, Carlyle Euro, Voya

By Rebecca Melvin

New York, March 9 – Pricing emerged for three collateralized loan obligations on Friday, with pricing on spreads across the stack tighter for transactions managed by Barings LLC and CELF Advisors LLP but mostly wider for the CLO priced by Voya Alternative Asset Management LLC.

Barings’s $562.8 million Barings CLO Ltd. 2018-I and Barings CLO 2018-I LLC consists of notes due April 15, 2031. At the top of the stack, the Barings CLO sold $357.5 million of class A-1 senior secured floating-rate notes at Libor plus 95 basis points. That was significantly tighter than the $280.9 million of class A-1 senior secured floating-rate notes priced at Libor plus 158 bps in December.

The Barings deal also included $60.5 million of class A-2 senior secured floating-rate notes priced at Libor plus 135 bps, $33 million of class B secured deferrable floating-rate notes at Libor plus 175 bps, $33 million of class C secured deferrable mezzanine floating-rate notes at Libor plus 260 bps, $22 million of class D secured deferrable mezzanine floating-rate notes at Libor plus 550 bps and $56.8 million of subordinated notes.

Also on Friday pricing emerged for the Carlyle Euro CLO 2018-1 DAC managed by CELF Advisors LLP, which priced €413.5 million of notes due April 15, 2031 in a new euro-denominated collateralized loan obligation offering.

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