Octagon refinances $645.35 million 2014 CLO; mezzanine securities active in secondary market

By Cristal Cody

Tupelo, Miss., May 12 – Octagon Credit Investors, LLC refinanced $645.35 million of notes from a 2014 CLO offering.

The deal is Octagon Credit Investors’ third CLO refinancing transaction year to date.

About $70 billion of U.S. CLOs have been refinanced in 2017, according to market sources.

CLO managers have priced more than $21 billion of new CLOs year to date.

In other activity, secondary market volume has been strong over the week in mezzanine-rated securitized notes.

On Thursday, the session saw $318.03 million of non-investment-grade CBO/CDO/CLO issues trade, while $202.83 million were traded on Wednesday, $389.7 million were traded on Tuesday and $206.35 million were traded on Monday, according to Trace.

During Thursday’s session, $102.53 million of high-grade securities were traded. On Wednesday, $88.7 million of investment-grade issues traded, while $63.3 million of securities traded on Tuesday and $75.74 million traded on Monday.

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