Arbour CLO IV prices; Symphony, Carlyle refinance U.S. CLOs; CELF Advisors refinances

By Cristal Cody

Eureka Springs, Ark., Oct. 18 – Oaktree Capital Management (UK) LLP priced a new euro-denominated CLO, while CELF Advisors LLP, Symphony Asset Management LLC and Carlyle Investment Management LLC refinanced older CLOs.

Oaktree Capital Management (UK) priced €413.45 million of notes in the European offering.

CELF Advisors refinanced €268.6 million of notes in a vintage 2013 CLO.

Symphony Asset Management refinanced $543 million of notes in a renamed CLO originally priced in 2012.

Carlyle Investment Management refinanced $620.25 million of notes from a 2014 deal.

More than $7 billion of CLOs have been refinanced over the past three weeks, according to a J.P. Morgan Securities LLC market note.

Oaktree Capital Management (UK) priced €413.45 million of notes due Jan. 15, 2030 in the Arbour CLO IV DAC transaction, according to a market source.

The CLO sold €30 million of 1.29% class A-1 senior secured fixed-rate notes (Aaa//AAA) and €214 million of class A-2 senior secured floating-rate notes (Aaa//AAA) at Euribor plus 114 basis points in the senior tranches.

Barclays was the placement agent.

Oaktree will manage the CLO.

The deal is collateralized mainly by senior secured loans and senior secured floating-rate notes.

Oaktree has priced two euro-denominated CLOs in 2016.

The London-based firm is an affiliate of Los Angeles-based Oaktree Capital Management, LP.

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