CSAM prices $797.2 million CLO; Angelo Gordon prints; Onex brings €363.45 million reset

By Cristal Cody

Tupelo, Miss., Dec. 10 – The CLO market remains active in December with both dollar- and euro-denominated issuance.

Credit Suisse Asset Management, LLC sold $797.2 million of notes in a new CLO deal.

Angelo, Gordon & Co., LP priced a new $450.18 million broadly syndicated CLO with a short one-year non-call period and a two-year reinvestment period.

In the European market, Barings (UK) Ltd. priced the €405.2 million Barings Euro CLO 2019-2 DAC transaction, according to a market source.

Morgan Stanley was the placement agent.

Final pricing details were not immediately available.

Also in the euro-denominated space, Onex Credit Partners, LLC sold €363.45 million of notes in a refinancing and reset of a vintage 2017 CLO.

CSAM sells XXXVI CLO

Credit Suisse Asset Management priced $797.2 million of notes due Jan. 15, 2033 in the Madison Park Funding XXXVI Ltd./Madison Park Funding XXXVI LLC transaction, according to a market source.

The CLO sold $496 million of class A floating-rate notes at Libor plus 133 basis points in the AAA-rated tranche.

Citigroup Global Markets Inc. was the placement agent.

The notes are collateralized primarily by broadly syndicated first-lien senior secured loans.

Credit Suisse Asset Management is a unit of Credit Suisse Group AG.

Northwoods prices

Angelo, Gordon priced $450.18 million of notes due Jan. 25, 2030 in its broadly syndicated CLO deal, according to a market source.

Northwoods Capital 20, Ltd./Northwoods Capital 20, LLC sold $270 million of class A-1 floating-rate notes at par to yield Libor plus 132 bps at the top of the capital structure.

Barclays was the placement agent.

The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.

Angelo Gordon, an alternative investment manager based in New York, has priced two new CLOs year to date.

Onex refinances CLO

Onex Credit Partners sold €363.45 million of notes in a refinancing and reset of the OCP Euro CLO 2017-1 DAC offering, according to market sources.

OCP Euro CLO 2017-1 sold €218.7 million of the class A senior secured floating-rate notes at Euribor plus 100 bps.

J.P. Morgan Securities plc was the refinancing placement agent.

Onex Credit Partners Europe LLP will manage the CLO.

The maturity on the refinanced notes was extended to January 2033 from June 18, 2030.

In the original €360.75 million offering issued May 11, 2017, the CLO priced €202.25 million of class A senior secured floating-rate notes at Euribor plus 90 bps.

The deal is backed primarily by broadly syndicated senior secured loans and senior secured bonds.

Onex Credit Partners is a private equity firm based in Toronto.

© 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.