Brigade sells $402.5 million CLO; Apollo brings €341.3 million second refinancing

By Cristal Cody

Tupelo, Miss., Dec. 5 – In new CLO supply, Brigade Capital Management, LLC priced a $402.5 million broadly syndicated deal.

The offering is the CLO manager’s second new issue of the year.

In other activity, Apollo Management International LLP priced €341.3 million of notes in a second refinancing of a vintage 2014 CLO.

Elsewhere, Voya Alternative Asset Management LLC closed Thursday on its previously reported $603.4 million Voya CLO 2019-4, Ltd./Voya CLO 2019-4 LLC deal. The CLO priced $372 million of the class A-1 floating-rate notes at Libor plus 134 basis points.

In its deal, Brigade Capital Management priced a new $402.5 million CLO offering, according to market sources.

Battalion CLO XVI Ltd./Battalion CLO XVI LLC sold $233 million of class A senior secured floating-rate notes at Libor plus 137 bps and $19 million of 2.94% class A-F senior secured fixed-rate notes at the top of the capital stack.

Meanwhile, Apollo Management International priced €341.3 million of notes in a second refinancing of the ALME Loan Funding II DAC transaction, according to a market source.

ALME Loan Funding II sold €234.8 million of class A-RR senior secured floating-rate notes (Aaa//AAA) at Euribor plus 75 bps in the senior tranche.

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