March CLO primary strong; BlueMountain, Acis, Sound Point, GSO/Blackstone among issuers

By Cristal Cody

Tupelo, Miss., March 17 – March primary action remains strong with more than $4 billion of CLOs priced in seven deals in the U.S. and European CLO markets, according to informed sources.

GSO/Blackstone Debt Funds Management LLC tapped the market with a $616.8 million CLO deal. The AAAs priced at Libor plus 150 basis points.

Benefit Street Partners LLC brought a $611.49 million CLO offering and placed the AAA notes at Libor plus 155 bps.

BlueMountain Capital Management LLC raised $507.1 million in a CLO transaction and priced the AAA slice at Libor plus 151 bps.

Also in the U.S. primary market, Acis Capital Management, LP priced a $578.35 million CLO deal. The AAA slice priced at Libor plus 159 bps.

Sound Point Capital Management LP brought a $625 million CLO offering and placed the AAA slice at Libor plus 153 bps.

Oak Hill Advisors, LP priced a $656.04 million CLO deal and sold the AAA-rated notes at Libor plus 150 bps.

In the European primary market, Portugal-based bank Caixa Economica Montepio Geral priced a €1,124,300,000 CLO deal backed by Portuguese small- and medium-sized enterprise loans, according to a market source. The AAA slice priced at Euribor plus 115 bps.

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