Alcentra sells $509 million CLO; Ares on tap; Golub eyes $1 billion middle-market CLO

By Cristal Cody

Tupelo, Miss., July 3 – Alcentra NY, LLC tapped the CLO primary market with its first new reported offering of the year.

The CLO manager sold $509 million of notes in the deal set to close later in July.

Upcoming transactions include a $511.6 million CLO offering from Ares Management LLC in the CLO manager’s third new broadly syndicated CLO transaction of 2018.

Golub Capital affiliate GC Investment Management LLC also plans to price a $1 billion middle-market CLO offering. The middle-market lender has been in the primary market year to date with one new CLO issue and three refinanced CLO transactions.

In its deal, Alcentra NY priced $509 million of notes due July 21, 2031 in the CLO deal, according to a market source.

Shackleton 2018-XII CLO, Ltd./Shackleton 2018-XII CLO LLC sold $320 million of class A senior floating-rate notes at Libor plus 107 basis points at the top of the capital stack.

BNP Paribas Securities Corp. was the placement agent.

Meanwhile, Ares Management plans to price $511.6 million of notes due July 22, 2030 in the Ares XLIX CLO Ltd./Ares XLIX CLO LLC transaction that will be managed by Ares CLO Management LLC, according to a market source.

Natixis Securities Americas LLC is the placement agent.

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