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Toro European CLO 6 and Guggenheim Partners price new deals; Apidos CLO XI refinances
Chicago, Sept. 6 – CLO issuance picked up on Friday with a dollar-denominated deal pricing, a Euro-denominated issue coming to market and details surfacing on a second refinancing.
Guggenheim priced $405.1 million from issuers Guggenheim CLO 2019-1 Ltd./Guggenheim CLO 2019-1 LLC in a deal that is set to close on Sept. 20.
Chenavari Credit Partners LLP brought €360.4 million of notes due Jan. 12, 2032 in its Toro European CLO 6 DAC transaction.
And, in a second refinancing CVC Credit Partners LLC priced $373.95 million of its Apidos CLO XI/Apidos CLO XI LLC in a deal that will redeem and issue anew six classes of notes in the portfolio.
And, the collateralized secondary market was busier on Thursday, according to Trace data.
Combined, the CBO/CDO/CLO market had $319.12 million exchange hands, the highest volume of the week, with the caveat that Friday data will be forthcoming.
Investment-grade secondary trading made up $202.59 million of that total. The average price was 98.7.
That left $116.533 million for the non-investment grade sector, with an average price of 86.9.
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