Eaton Vance prices $458.73 million CLO; Investcorp sells Harvest CLO XVI in refinancing

By Rebecca Melvin

New York, Sept. 18 – New collateralized loan obligation supply was forthcoming again on Tuesday although there has been speculation that issuance may drop off.

Pricing emerged on a new issue and a refinancing.

Eaton Vance Management priced $458,725,000 of notes due October 2030 in its first new CLO of the year.

Eaton Vance CLO 2018-1 Ltd./Eaton Vance CLO 2018-1, LLC sold $276.75 million of class A-1 senior secured floating-rate notes at Libor plus 113 basis points; $15.75 million of class A-2 senior secured floating-rate notes at Libor plus 140 bps; $49.5 million of class B senior secured floating-rate notes at Libor plus 170 bps; $26.5 million of class C senior secured deferrable floating-rate notes at Libor plus 215 bps; $27.25 million of class D senior secured deferrable floating-rate notes at Libor plus 310 bps; $18.25 million of class E secured deferrable floating-rate notes at Libor plus 580 bps; $44,725,000 of subordinated notes.

In addition, Investcorp Credit Management EU Ltd. priced €457.5 million of notes due October 2031 in a refinancing of a broadly syndicated CLO deal

Harvest CLO XVI DAC sold €3 million of class X senior secured floating-rate notes (Aaa//AAA) at Euribor plus 60 bps and €273 million of class A senior secured floating-rate notes (Aaa//AAA) at Euribor plus 95 bps at the top of the capital stack.

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