Greywolf Capital prices $474.45 million reissue; Accunia wraps €407.05 million CLO

By Cristal Cody

Tupelo, Miss., March 10 – In the CLO market on Tuesday, Greywolf Capital Management LP closed on a $474.45 million second refinancing of a vintage 2014 CLO.

Also during the session, Accunia Fondsmaeglerselskab A/S closed on its previously reported €407.05 million Accunia European CLO IV DAC offering, the manager’s first new issue since 2018. The CLO priced €248 million of class A senior secured floating-rate notes at Euribor plus 98 basis points at the top of the stack.

In other activity, the securitized secondary market was active on Monday despite turmoil in the financial markets due to the coronavirus and oil price wars.

During the session, $440.28 million of investment-grade CBO/CDO/CLO paper and $100.99 million of lower-rated issues traded, according to Trace data.

Greywolf Capital Management sold $474.45 million of notes in the refinancing deal, according to a market source.

Greywolf CLO III, Ltd./Greywolf CLO III, LLC sold $320 million of class A-1-R senior secured floating-rate notes at Libor plus 129 bps at the top of the capital structure.

J.P. Morgan Securities LLC was the refinancing placement agent.

The maturity on the refinanced notes was extended to April 22, 2033 from Oct. 22, 2028.

The investment management firm is based in Purchase, N.Y.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.