Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Brightwood Capital Fund 2016-3 > News item |
Brightwood Capital prices $652.8 million non-rated CLO; mezzanine notes soften
By Cristal Cody
Eureka Springs, Ark., May 10 – Brightwood Capital Advisors, LLC tapped the CLO market with a new deal, while spreads in the upper stack remain mostly unchanged in secondary trading, according to sources.
Brightwood Capital Advisors was in the primary market with a $652.8 million non-rated CLO deal.
Secondary AAAs have been mostly unchanged at Libor plus 155 basis points in secondary trading, a source said.
Mezzanine tranches have softened 5 bps to 10 bps since the end of April.
Brightwood brings deal
Brightwood Capital Advisors priced $652.8 million of notes in the CLO transaction, according to a market source.
Brightwood Capital Fund 2016-3 sold $335 million of class A-T floating-rate notes at Libor plus 264 bps in the senior tranche.
Natixis Securities Americas LLC was the placement agent.
Brightwood Capital Advisors will manage the CLO.
The debt and equity firm is based in New York.
© 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.