Ares wraps €463.15 million CLO; new issue euro volume nearly €20 billion year to date

By Cristal Cody

Tupelo, Miss., Sept. 6 – Ares European Loan Management LLP closed Thursday on a new €463.15 million euro-denominated CLO offering.

The CLO manager has priced two European CLOs in 2018.

BlueMountain Fuji Management, LLC and Tikehau Capital Europe Ltd. closed Tuesday on new European CLO deals.

Year to date, more than €19 billion of new euro-denominated CLOs have priced, according to market sources.

Ares European Loan Management sold €463.15 million of notes due Oct. 15, 2031 in the CLO offering, according to a market source.

Ares European CLO X BV priced €274.5 million of class A senior secured floating-rate notes at Euribor plus 85 basis points at the top of the capital structure.

Merrill Lynch International was the placement agent.

The notes are backed primarily by euro-denominated senior secured loans and senior secured bonds.

Ares European Loan Management is an asset management firm based in London.

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