CLO pipeline fills; Apollo plans €360 million CLO; Invesco markets $513 million deal

By Cristal Cody

Tupelo, Miss., Oct. 14 – October primary activity is expected to pick up in the CLO market with new deals entering the pipeline, according to market sources on Tuesday.

Apollo Global Management, LLC plans to price €360 million of notes in the ALME Loan Funding III Ltd. offering, according to a market source.

Citigroup Global Markets Inc. is the placement agent.

The transaction is the firm’s second European deal of the year. Apollo Global Management was last in the primary market on June 6 with the €382.4 million ALME Loan Funding II Ltd. transaction.

In the U.S. primary market, Invesco Senior Secured Management, Inc. is expected to offer $513 million of notes in Limerock CLO III Ltd./Limerock CLO III LLC deal, according to a market source.

Credit Suisse Securities (USA) LLC is the placement agent.

Invesco has refinanced one vintage CLO and priced two CLO deals, including the $669.75 million Limerock CLO II Ltd./Limerock CLO II LLC offering, in 2014.

Also in the U.S. deal pipeline, CVC Credit Partners, LLC plans to bring $512.25 million of notes due 2026 in the Apidos CLO XIX/Apidos CLO XIX LLC transaction, according to a market source.

Wells Fargo Securities LLC is the placement agent.

CVC Credit Partners has brought two CLO deals in 2014.

More than $100 billion of CLO transactions have priced year to date, according to data compiled by Prospect News.

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