Banks bring SME CLOs; BlueMountain markets $407.25 million; GSO/Blackstone ‘prolific’

By Cristal Cody

Tupelo, Miss., Aug. 18 – Details emerged on two new SME CLO deals priced in the euro-denominated primary market.

Banca Monte dei Paschi di Siena SpA priced a €2,876,600,000 offering of asset-backed floating-rate notes secured by small- and medium-sized enterprise loans.

In the senior tranches, Siena PMI 2015 Srl sold €296 million of class A-1A notes and €592 million of class A-1B notes at a spread of three-month Euribor plus 82 basis points.

Meanwhile, Banca Popolare di Bari priced €557.03 million of notes in a small- and medium-sized enterprise-backed CLO deal.

Looking ahead to upcoming action in the U.S. deal market, BlueMountain Capital Management LLC plans to price a $407.25 million CLO transaction.

In the U.S. market, CIFC Asset Management LLC remains the top CLO manager through July by number of deals, managing 30 CLOs, Moody’s Investors Service said in a report on Tuesday.

Carlyle Investment Management LLC came in as the No. 2 top CLO manager with 25 CLOs, and GSO/Blackstone Debt Funds Management LLC ranked as the No. 3 U.S. manager with 24 CLOs.

Alcentra Ltd. and Blackstone/GSO Debt Funds Management Europe Ltd. tie for the top ranking through July in the European deal market with 15 CLOs each, Moody’s said.

Globally, GSO/Blackstone is the “most prolife CLO manager,” with 39 CLOs and assets under management of $17.4 billion, Moody’s said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.