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Benefit Street, Kayne price broadly syndicated CLOs; Brightwood sells middle-market CLO
By Cristal Cody
Tupelo, Miss., Dec. 17 – In new broadly syndicated CLO volume, Benefit Street Partners LLC priced a $508.7 million transaction.
The deal is the manager’s third new CLO offering of the year.
Also in the primary market, Kayne Anderson Capital Advisors, LP wrapped a $401 million broadly syndicated CLO offering.
In the middle-market space, Brightwood SPV Advisors, LLC priced a $305 million CLO.
Year to date, about $110 billion of broadly syndicated CLOs and about $13 billion of middle-market CLOs have priced, according to market sources.
In its deal, Benefit Street Partners priced $508.7 million of notes due Jan. 15, 2033 in the new CLO transaction, according to market sources.
Benefit Street Partners CLO XIX Ltd./Benefit Street Partners CLO XIX LLC sold $320 million of class A floating-rate notes at Libor plus 135 basis points in the AAA-rated tranche of the capital structure.
Meanwhile, Kayne Anderson Capital Advisors closed Monday on the new $401 million broadly syndicated CLO transaction, according to market sources.
Kayne CLO 6 Ltd./Kayne CLO 6 LLC sold $248 million of the class A-1 senior secured floating-rate notes at Libor plus 138 bps and $12 million of the class A-2 senior secured floating-rate notes at Libor plus 185 bps.
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