CIFC prices $498.3 million CLO; First Eagle, MJX, CVC refinance notes; inflows dip

By Cristal Cody

Tupelo, Miss., Oct. 23 – CIFC Asset Management LLC closed Friday on a new $498.3 million broadly syndicated CLO in the manager’s third deal of 2020.

Meanwhile, refinancing of fixed-rate CLO tranches continues.

MJX Asset Management LLC priced $110.53 million of fixed-rate notes in two tranches in a refinancing of a 2018 CLO.

CVC Credit Partners, LLC priced $25 million of notes in a partial second refinancing of a vintage 2015 CLO offering.

Also, First Eagle Alternative Credit, LLC priced $19.99 million of notes in a third partial refinancing of the Wind River 2014-3 CLO Ltd./Wind River 2014-3 CLO LLC deal.

More than $60 billion of new CLOs and over $30 billion of refinanced CLOs have been in the primary market year to date, sources report.

In other activity, leveraged loan funds saw $76.2 million of inflows over the past week ended Wednesday, down from $181 million of inflows in the prior week, according to a Fitch Ratings report.

In its deal, CIFC Asset Management priced $498.3 million of notes due Oct. 20, 2031 in the new issue, according to market sources.

CIFC Funding 2020-III, Ltd./CIFC Funding 2020-III, LLC sold $300 million of class A-1 floating-rate notes at Libor plus 135 basis points at the top of the capital stack.

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