Carlyle prices $602.7 million CLO in manager’s first dollar-denominated deal of year

By Cristal Cody

Tupelo, Miss., March 28 – Details emerged on Carlyle CLO Management LLC’s first dollar-denominated CLO offering of the year.

The CLO manager priced $602.7 million of notes in the offering. The Carlyle Group also has priced a euro-denominated deal this year.

Carlyle priced four dollar-denominated broadly syndicated CLOs in 2018.

Year to date in the overall market, more than $23 billion of dollar-denominated CLOs and more than €6 billion of European CLO offerings have priced, according to market sources.

Carlyle prices 2019-1 CLO

Carlyle CLO Management sold $602.7 million of notes due April 21, 2031 in the Carlyle US CLO 2019-1 Ltd./Carlyle US CLO 2019-1 LLC transaction that is set to close in the week ahead, according to a market source.

In the senior secured tranches, the CLO sold $372 million of class A-1a senior secured floating-rate notes at Libor plus 132 basis points, $18 million of class A-1b senior secured floating-rate notes at Libor plus 160 bps and $66 million of class A-2 senior secured floating-rate notes at Libor plus 185 bps.

Citigroup Global Markets Inc. was the placement agent.

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

The asset management firm is an affiliate of Washington, D.C.-based Carlyle Group.

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