Buckhead, Sound Point refinance; Five Arrows offers $302.2 million CLO; outflows rise

By Cristal Cody

Tupelo, Miss., Sept. 11– Buckhead One Financial Opportunities, LLC issued $104.25 million of notes on Thursday in a partial refinancing of a 2017 static CDO.

The refinancing was first announced in March as the primary markets were closing in response to the Covid-19 pandemic. The securitized refinancing space resumed activity in late July.

Also in refinancing action, Sound Point Capital Management LP sold $20 million of notes in a refinancing of fixed-rate notes from a 2018 broadly syndicated CLO.

Meanwhile, Five Arrows Managers North America LLC plans to bring its third new CLO offering of the year to the primary market. The company is marketing a $302.2 million CLO.

More than $49 billion of broadly syndicated CLOs have priced year to date, according to market sources.

The refinancing space has seen more than $26 billion of volume so far this year.

In other activity, leveraged loan funds outflows totaled $260 million for the past week ended Wednesday, up from $70 million in the prior week and $117 million in the week prior, Fitch Ratings said. Year-to-date redemptions total $19.3 billion.

Elsewhere, secondary volume ramped up on Thursday across the CBO/CDO/CLO capital stack, Trace data shows.

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