CLO refinancings continue; Carlyle, HPS Investment, Teachers Advisors reprice CLOs

By Cristal Cody

Tupelo, Miss., July 24 – New details emerged on three more vintage CLOs that were refinanced in July.

Carlyle Investment Management LLC subsidiary Carlyle CLO Management LLC refinanced $519.5 million of notes from a 2015 CLO.

HPS Investment Partners, LLC priced $505.9 million of notes in a refinancing of 2016 CLO notes.

Teachers Advisors, LLC also repriced $457.24 million of notes from a vintage 2016 deal.

More than $71 billion of U.S. CLOs have been refinanced year to date, according to market sources.

In its deal, Carlyle CLO Management refinanced $519,575,000 of notes due July 20, 2028 from the Carlyle Global Market Strategies CLO 2015-3 Ltd./Carlyle Global Market Strategies CLO 2015-3 LLC transaction, according to a notice of revised form of proposed supplemental indenture for refinancing redemption on Monday.

The CLO sold $362.25 million of class A-1-R senior secured floating-rate notes at Libor plus 100 basis points at the top of the capital structure.

Meanwhile, HPS Investment Partners priced $505,975,000 of notes in a refinancing of a vintage CLO offering, according to a market source and a notice of executed first supplemental indenture on Monday.

HPS Loan Management 8-2016 Ltd./HPS Loan Management 8-2016 LLC sold $292.5 million of class A1-R senior secured floating-rate notes at Libor plus 102 bps in the senior slice.

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