Fortress brings CLO AAAs at Libor plus 125 bps; Carlyle Investment Management in pipeline

By Cristal Cody

Tupelo, Miss., June 25 – Fortress Investment Group LLC tapped the CLO primary market with a new $408 million deal.

The CLO placed the AAA rated notes at Libor plus 125 basis points, on the tight side of recent issuance.

Coming up in the deal pipeline, Carlyle Investment Management LLC plans to price a $513 million CLO.

Fortress Investment Group priced $408 million of notes due July 17, 2023 in a CLO transaction, according to a market source.

In the senior tranche, Fortress Credit Funding IV Ltd./Fortress Credit Investments IV LLC sold $220 million of class A senior secured floating-rate notes at Libor plus 125 bps.

BofA Merrill Lynch was the placement agent.

Fortress Credit Investment IV CM LLC will manage the CLO.

The CLO is non-callable until July 17, 2017.

The deal is backed primarily by a static pool of broadly syndicated senior secured corporate loans.

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