Golub prices $453.6 million CLO; BlackRock sells new CLO; CBAM prints €301.23 million

By Cristal Cody

Tupelo, Miss., Oct. 14 – Three more issuers tapped the dollar- and euro-denominated CLO primary markets on Wednesday.

Golub Capital LLC affiliate OPAL BSL LLC priced a $453.6 million broadly syndicated CLO offering.

BlackRock Financial Management, Inc. sold $404.85 million of notes in the manager’s third CLO deal of the year.

Meanwhile, CBAM CLO Management Europe LLC priced €301.23 million of notes in its third euro-denominated broadly syndicated CLO transaction of 2020.

More than $60 billion of dollar-denominated broadly syndicated CLOs and over €14 billion of euro-denominated CLOs have priced year to date, according to market sources.

Golub brings broadly syndicated CLO

OPAL BSL priced $453.6 million of notes due Oct. 20, 2031 in the broadly syndicated CLO deal, according to market sources.

Golub Capital Partners CLO 50(B) Ltd./Golub Capital Partners CLO 50(B) LLC sold $270 million of class A floating-rate notes at Libor plus 155 basis points in the AAA-rated tranche.

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

The CLO is backed primarily by broadly syndicated senior secured corporate loans.

Golub Capital is a New York-based middle market lender.

Magnetite XXVIII CLO prices

BlackRock Financial Management sold $404.85 million of notes due Oct. 25, 2031 in the manager’s new offering, according to market sources.

Magnetite XXVIII, Ltd./Magnetite XXVIII LLC priced $252 million of class A floating-rate notes at Libor plus 127 bps in the senior tranche.

Barclays was the placement agent.

The CLO is collateralized primarily by broadly syndicated first lien senior secured loans.

BlackRock is an investment management firm based in New York City.

CBAM sells third euro CLO

CBAM CLO Management Europe priced €301.23 million of notes due Jan. 15, 2034 in its new CLO, according to market sources.

Bastille Euro CLO 2020-3 DAC sold €186 million of class A floating-rate notes at Euribor plus 115 bps at the top of the capital stack.

Citigroup Global Markets Ltd. was the placement agent.

The deal is backed primarily by euro-denominated broadly syndicated senior secured loans and bonds.

CBAM CLO Management Europe is a subsidiary of New York City-based asset management firm CBAM Partners, LLC.

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