Guggenheim prices $303.83 million CLO; high-grade CBO/CDO/CLO prices improve

By Cristal Cody

Tupelo, Miss., April 30 – Guggenheim Partners Investment Management LLC tapped the broadly syndicated primary market with a new $303.83 million deal in April.

More than $3 billion of CLOs were priced over the month, sources report.

Looking at the securitized secondary market, $622.45 million of investment-grade CBO/CDO/CLO issues and $108.38 million of non-high-grade paper traded on Wednesday, according to Trace data.

Prices on investment-grade paper averaged 91.80, up from 89.60 on Tuesday and 90.40 on Monday.

Non-high-grade paper softened to an average of 59.60 on Wednesday from 62.60 on Tuesday and 78.20 on Monday.

Trading volume included $1.02 billion of high-grade issues on Tuesday and $434.63 million on Monday.

Secondary market volume also included $186.33 million of lower-rated paper traded on Tuesday and $48.2 million on Monday.

Guggenheim prints 2020-1

Guggenheim Partners Investment Management sold $303.83 million of notes due April 15, 2031 in a new broadly syndicated CLO transaction, according to market sources.

Guggenheim CLO 2020-1 Ltd./Guggenheim CLO 2020-1 LLC priced $180.18 million of class A floating-rate notes at Libor plus 180 basis points in the AAA-rated tranche.

Goldman Sachs & Co. LLC was the placement agent.

The deal is collateralized primarily by broadly syndicated senior secured loans.

Guggenheim Partners Investment Management is an asset management firm based in New York and Chicago.

© 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.