Permira sells €382.2 million CLO; Bain Capital refinances 2015 CLO; MJX eyes reprint

By Cristal Cody

Tupelo, Miss., June 27 – Permira Debt Managers Group Holdings Ltd. priced a new €382.2 million euro-denominated CLO in its first offering since tapping the primary market in 2018.

In other action, Bain Capital Credit Ltd. refinanced $346.15 million of notes from a vintage 2015 CLO deal.

Also, MJX Asset Management LLC plans a second refinancing of a vintage 2013 CLO.

In its deal, Permira Debt Managers Group Holdings priced €382.2 million of notes due July 20, 2032 in the CLO offering on Thursday, according to market sources.

The Providus CLO III DAC deal included €232.5 million of class A senior secured floating-rate notes (//AAA).

Merrill Lynch International was the placement agent.

The broadly syndicated CLO is backed mainly by senior secured obligations.

The structured credit firm is based in London.

Meanwhile, Bain Capital Credit refinanced $346.15 million of notes due Jan. 15, 2028 from the vintage 2015 Avery Point CLO VII, Ltd./Avery Point CLO VII, Corp. transaction, according to a market source and a notice of optional redemption and revised supplemental indenture.

The CLO sold $252 million of the class A-R senior secured floating-rate notes (expected ratings Aaa//AAA) at Libor plus 114 basis points.

Credit Suisse Securities (USA) LLC was the refinancing placement agent.

© 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.