KKR prices $607 million CLO; Investcorp brings $408.5 million deal; Ares prints new CLO

By Cristal Cody

Tupelo, Miss., June 26 – In new CLO pricing activity, KKR Financial Advisors II, LLC sold $607 million of notes in the manager’s second CLO offering of 2018.

Also in the primary market, Investcorp Credit Management US LLC placed a $408.5 million CLO in the firm’s first offering of the year.

In other new issuance, Ares Management LLC closed on a new $512.75 million CLO deal, the second transaction of the year for the CLO manager.

About $55 billion of new issue CLOs have priced year to date, according to market sources.

KKR brings KKR CLO 22

KKR Financial Advisors II priced $607 million of notes due July 20, 2031 in the KKR CLO 22 Ltd./KKR CLO 22 LLC transaction, a source said.

The CLO sold $390 million of class A floating-rate notes at Libor plus 115 basis points in the senior tranche.

Credit Suisse Securities (USA) LLC was the placement agent.

KKR has priced two new CLO transactions year to date.

The investment firm and subsidiary of San Francisco-based KKR Credit Advisors (US) LLC brought four CLOs to the market in 2017.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.