Elmwood prices $501.5 million CLO; Sculptor sells euro CLO; PGIM refinances notes

By Cristal Cody

Tupelo, Miss., Dec. 11 – New dollar-denominated broadly syndicated CLO supply includes a $501.5 million transaction from Elmwood Asset Management LLC.

The deal is the manager’s fourth offering priced year to date.

In the European primary market, Sculptor Europe Loan Management Ltd. issued €315.75 million of notes in a new CLO.

Meanwhile, the refinancing space remains active.

Prudential Investment Management, Inc. affiliate PGIM, Inc. priced $616 million of notes in a third refinancing of a vintage 2014 CLO.

In its deal, Elmwood Asset Management priced $501.5 million of notes due Jan. 17, 2034 in the CLO, according to market sources.

Elmwood CLO VII Ltd. sold $300 million of class A floating-rate notes at Libor plus 139 basis points in the AAA-rated tranche.

RBC Capital Markets LLC was the placement agent.

Meanwhile, Sculptor Europe Loan Management priced €315.75 million of notes in the Sculptor European CLO VII DAC transaction, according to market sources.

The CLO sold €186 million of the class A senior secured floating-rate notes at Euribor plus 110 bps.

Barclays was the placement agent.

© 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.