Aegon issues $357.05 million CLO; TCW, Octagon refinance CLOs; Brigade refinances CDO

By Cristal Cody

Tupelo, Miss., Nov. 5 – Aegon USA Investment Management LLC issued $357.05 million of notes in the manager’s first broadly syndicated CLO transaction of the year.

Meanwhile, the TCW Group priced $366 million of notes in a refinancing of a CLO transaction that was originally brought to the market in April.

Octagon Credit Investors, LLC refinanced $10 million of fixed-rate notes from a 2017 broadly syndicated CLO.

In addition, Brigade Capital Management, LP refinanced $98 million of notes from a vintage 2018 CDO offering.

In other activity, Barings (UK) Ltd. closed Thursday on its previously reported €452.8 million Barings Euro CLO 2020-1 DAC deal, which priced €279 million of the class A senior secured floating-rate notes at Euribor plus 110 basis points.

Also on Thursday, CBAM CLO Management Europe LLC wrapped its €301.23 million Bastille Euro CLO 2020-3 DAC offering, which placed €186 million of the class A floating-rate notes at Euribor plus 115 bps.

New issue supply this year includes about $70 billion of dollar-denominated broadly syndicated CLO volume and more than €17 billion of euro-denominated issuance year to date, according to market sources.

More than $30 billion of vintage CLO notes have been refinanced this year.

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