CLO supply busy at year’s end; Carlyle, First Eagle price; First Eagle refinances 2016 CLO

By Cristal Cody

Tupelo, Miss., Dec. 23 – The dollar-denominated CLO primary market remains busy late in the year with new deal and refinancing volume.

First Eagle Investment Management brought a new issue broadly syndicated CLO offering and priced a $333.26 million refinancing and reset of a 2016 middle-market CLO in the past week.

In the broadly syndicated transaction, First Eagle Private Credit Advisors LLC priced $405.35 million of securities.

First Eagle Private Credit LLC sold $333,256,000 of notes in the middle-market reprint.

Also last week as previously reported, HalseyPoint Asset Management LLC priced $458.86 million of notes in its debut CLO transaction, HalseyPoint CLO I, Ltd./HalseyPoint CLO I, LLC, via J.P. Morgan Securities LLC.

In addition, Seix Investment Advisors LLC priced the previously reported $406.4 million Mountain View CLO XV, Ltd./Mountain View CLO XV, LLC offering. Goldman Sachs & Co. LLC was the structuring and placement agent.

In other new issuance in December, Carlyle CLO Management LLC sold $455.2 million of notes in the manager’s fourth new broadly syndicated CLO transaction of 2019.

Year to date, new issue broadly syndicated deal volume has reached $114 billion, while refinancing supply totals $43 billion, according to a BofA Global Research note released on Monday.

Meanwhile, CLO bonds are continuing to rally late in the year.

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