Partners brings firm’s second CLO of year; TPG prices $410 million; Oaktree wraps deal

By Cristal Cody

Tupelo, Miss., Dec. 6 – Partners Group US Management CLO LLC priced $409.8 million of notes in the manager’s second CLO deal of 2018.

TPG Institutional Credit Partners, LLC brought its fourth new CLO offering of the year to the primary market.

Meanwhile, Oaktree Capital Management LP closed Wednesday on its first CLO deal priced this year. The CLO manager sold $509.25 million of notes.

Year to date, more than $100 billion of new issue CLOs have priced, according to market sources.

About $135 billion of issuance was expected by market analysts for the year.

In its deal, Partners Group US Management CLO priced $409.8 million of notes due Jan. 18, 2032 in the new deal, according to a market source.

Pikes Peak CLO 2, Ltd. sold $256 million of the class A floating-rate notes at Libor plus 129 basis points.

Credit Suisse Securities (USA) LLC was the placement agent.

Meanwhile, TPG Institutional Credit Partners affiliate TICP CLO XII Management, LLC sold $410 million of notes due Jan. 15, 2031 in the new TICP CLO XII, Ltd./TICP CLO XII, LLC transaction, according to a market source.

The CLO priced $256 million of class A floating-rate notes at Libor plus 111 bps in the AAA-rated tranche.

Goldman Sachs & Co. LLC was the placement agent.

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