Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Octagon Investment Partners 31, LLC > News item |
Octagon reprices CLO; secondary high-grade CBO/CDO/CLO supply rises, paper trades flat
By Cristal Cody
Tupelo, Miss., Sept. 30 – In new refinancing activity, Octagon Credit Investors, LLC repriced a tranche of fixed-rate notes from a 2017 broadly syndicated CLO offering.
More than $28 billion of vintage CLOs have been refinanced, while about $55 billion of new CLOs have priced year to date, according to market sources.
Elsewhere, secondary high-grade CBO/CDO/CLO supply climbed to $471.1 million on Tuesday from $322.37 million of issues traded on Monday, according to Trace.
Investment-grade CBO/CDO/CLO notes were flat at an average price of 98.10 over the session.
Further down the capital structure, $113.68 million of lower-rated CBO/CDO/CLO issues were traded in the prior session, up from $76.72 million at the start of the week.
Non-high-grade paper softened to an average price of 88.40 on Tuesday from 92.70 during Monday’s session.
Octagon Credit Investors priced $13.2 million of notes in a partial refinancing of the Octagon Investment Partners 31, Ltd./Octagon Investment Partners 31, LLC transaction, according to market sources.
The CLO sold $13.2 million of 2.025% class B-2R senior secured fixed-rate notes due July 20, 2030.
In the original offering issued June 29, 2017, the CLO had priced $13.2 million of 3.729% class B-2 senior secured fixed-rate notes.
Citigroup Global Markets Inc. was the refinancing agent.
© 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.