CLO market ramps up with expected ING deal; European, U.S. CLO transactions in pipeline

By Cristal Cody

Tupelo, Miss., Nov. 26 - ING Alternative Asset Management LLC was expected to price a deal in the collateralized loan obligation market on Tuesday via placement agent Credit Suisse Securities (USA) LLC, according to an informed source.

Additional details were not available by press time.

Although activity slowed across other financial markets on Tuesday with the shortened holiday week, CLO market activity stayed fairly busy, according to sources.

"Jammed up," one market source said.

CLO issuance year to date has climbed to more than $70 billion.

NIBC Bank NV remains in the deal pipeline with the €300 million North Westerly CLO IV offering via RBS Securities Inc.

Alcentra NY LLC also has a $413.85 million deal in the works. Alcentra plans to price the Shackleton 2013-1 CLO LLC transaction via J.P. Morgan Securities LLC.

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