Kayne Anderson prices $449 million CLO; Cerberus sells $504.8 million in middle market

By Cristal Cody

Tupelo, Miss., Nov. 10 – The broadly syndicated and middle-market CLO primary markets saw new issuance from Kayne Anderson Capital Advisors, LP and Cerberus Capital Management, LP.

Kayne Anderson Capital Advisors priced $449 million of notes in the manager’s third broadly syndicated CLO deal of the year.

Cerberus Capital Management sold $504.8 million of notes in its second middle-market CLO offering year to date.

In other market activity, Barings LLC closed Tuesday on its previously reported $349.1 million Barings CLO Ltd. 2020-II/Barings CLO Ltd. 2020-II LLC offering, which priced $210 million of the class A-1 floating-rate notes at Libor plus 129 basis points.

Also on Tuesday, NYL Investors LLC settled its $404.48 million Flatiron CLO 20 Ltd./Flatiron CLO 20 LLC deal. The CLO placed $252 million of the class A floating-rate notes at Libor plus 130 bps.

About $70 billion of broadly syndicated CLOs and more than $6 billion of middle-market CLOs have priced year to date, according to market sources.

In its deal, Kayne Anderson Capital Advisors priced $449 million of notes due Jan. 15, 2034 in the broadly syndicated CLO transaction, according to market sources.

Kayne CLO 9 Ltd./Kayne CLO 9 LLC sold $279 million of class A-1 floating-rate notes at Libor plus 140 bps at the top of the capital stack.

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