Diameter Capital sells CDO; New Mountain Credit prices CLO; Investcorp brings euro deal

By Cristal Cody

Tupelo, Miss., Oct. 8 – New securitized deal volume includes issuance in the CDO market.

Diameter Capital Partners LP issued $429.5 million of notes in a CDO transaction.

Meanwhile in the broadly syndicated space, New Mountain Credit CLO Advisors LLC priced $348.7 million of notes in the manager’s first deal this year.

In the European primary market, Investcorp Credit Management EU Ltd. priced a €419.56 million broadly syndicated CLO offering.

About $60 billion of dollar-denominated CLOs and more than €14 billion of euro-denominated CLOs have priced so far this year, according to market sources.

In its deal, Diameter Capital Partners issued $429.5 million of notes due Oct. 25, 2038 in the CDO transaction, according to a market source.

Diameter Credit Funding III, Ltd. sold $198 million of 2.94% class A senior secured fixed-rate notes in the AAA-rated tranche.

GreensLedge Capital Markets LLC was the placement agent.

Separately, New Mountain Credit CLO Advisors sold $348.7 million of notes due Oct. 15, 2032 in its CLO offering, according to market sources.

New Mountain CLO 1 Ltd./New Mountain CLO 1 LLC sold $197 million of class A-1 senior secured floating-rate notes at Libor plus 155 basis points at the top of the capital structure.

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