New dollar, euro CLOs eyed in near future; CBO/CDO/CLO paper active in secondary market

By Cristal Cody

Tupelo, Miss., Jan. 14 – Several new issue dollar- and euro-denominated CLO deals are expected to be in the primary market in the next few weeks, sources report.

Refinancings also are kicking off following a second reprint of the vintage 2015 Golub Capital Partners CLO 28(M) Ltd./Golub Capital Partners CLO 28(M) LLC middle-market offering in the prior week by GC Investment Management LLC.

Seix Investment Advisors LLC intends to refinance notes from the Mountain View CLO 2016-1, Ltd./Mountain View CLO 2016-1, Corp. broadly syndicated deal.

Elsewhere, CBO/CDO/CLO paper remains popular and mostly better in the secondary market as 2020 gets underway.

On Monday, $554.3 million of high-grade issues and $309.99 million of lower-rated securities traded at a weighted average price of 99.70 and 89.90, respectively, according to Trace data. Average prices were 99.50 for the high-grade paper and 92 for the non-investment-grade issues.

In the same period last week, $494.65 million of CBO/CDO/CLO issues and $216.59 million of non-high-grade securities were traded.

The high-grade paper had an average price of 98.70 and the lower-rated issues were quoted at an average 92.10 price.

The securitized secondary market posted strong volume over the first full week of the new year.

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