Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Oaktree CLO 2014-1 Ltd. > News item |
Oaktree refinances $400 million 2014 CLO; PGIM refinances €353.7 million 2015 CLO notes
By Cristal Cody
Tupelo, Miss., May 17 – CLO refinancing action remains strong year to date in both the U.S. and European CLO markets.
In news Wednesday, Oaktree Capital Management LP refinanced $400 million of notes in a reset of a 2014 deal.
PGIM, Inc. refinanced €353.7 million of CLO notes from a 2015 transaction.
About $76 billion of U.S. CLOs and nearly €10 billion of euro CLOs have been refinanced year to date, according to market sources.
Oaktree Capital Management sold $400 million of notes in a refinancing and reset of the Oaktree CLO 2014-1, Ltd./Oaktree CLO 2014-1 LLC transaction, according to a market source and a notice of executed first supplemental indenture on Tuesday.
The CLO priced the $271.3 million tranche of class A-1-R senior secured floating-rate notes at Libor plus 129 basis points.
The $3 million of class X notes are a new class in the CLO, which was originally priced in January 2014.
Citigroup Global Markets Inc. was the refinancing agent.
The maturity on the refinanced notes was extended to May 13, 2029 from the original Feb. 13, 2025 maturity.
© 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.