OPAL prices $406.75 million CLO; KKR Financial taps market; December supply strong

By Cristal Cody

Tupelo, Miss., Dec. 16 – In new CLO supply in December, Golub Capital affiliate OPAL BSL LLC priced a $406.75 million broadly syndicated offering.

In other deal volume, KKR Financial Advisors II, LLC priced $403.9 million of notes in a broadly syndicated CLO transaction.

Meanwhile, CBAM Partners LLC closed Wednesday on its previously reported $468 million CBAM 2020-13, Ltd./CBAM 2020-13 LLC offering, which included $279 million of the class A floating-rate notes at Libor plus 143 basis points.

More than $6 billion of dollar-denominated broadly syndicated CLOs have priced month to date through Friday, according to a J.P. Morgan Securities LLC report.

New issue volume is closing out the year with more than $83 billion of dollar-denominated CLOs, more than €22 billion of euro-denominated CLOs and about $8 billion of middle-market CLOs sold, market sources said.

In its deal, OPAL BSL priced $406.75 million of notes due Jan. 20, 2034 in the CLO offering, according to market sources.

Golub Capital Partners CLO 52(B) Ltd./Golub Capital Partners CLO 52(B) LLC sold $240 million of the class A-1 floating-rate notes at Libor plus 144 bps.

J.P. Morgan Securities, LLC was the arranger.

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