CLO pipeline active; total deal volume nearly $100 billion year to date

By Cristal Cody

Tupelo, Miss., Nov. 12 – Several CLO deals remain in the near-term pipeline, while at least $10 billion of issuance is expected over the remainder of the year to meet analyst forecasts, according to market sources.

New issuance is expected from CLO managers including American Money Management Corp., Ares Management LLC and Sankaty Advisors LLC.

American Money Management plans to price $357.3 million of notes in the AMMC CLO 17, Ltd./AMMC CLO 17, LLC transaction via Mitsubishi UFJ Securities (USA) Inc.

Ares Management is on the calendar with the $408 million Ares XXXVIII CLO, Ltd./Ares XXXVIII CLO, LLC deal. BofA Merrill Lynch is the placement agent.

Sankaty Advisors is offering $408.48 million of notes in the Avery Point CLO VII, Ltd./Avery Point CLO VII, Corp. deal. J.P. Morgan Securities LLC is the placement agent.

More than $97 billion of broadly syndicated, vintage CLO refinancings and middle-market CLOs have priced year to date, according to Prospect News data.

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