Ares prices $409 million CLO; HalseyPoint issues CLO; high-grade CBO/CDO/CLOs improve

By Cristal Cody

Tupelo, Miss., Nov. 24 – In new CLO primary activity, Ares Management LP subsidiary Ares CLO Management LLC priced $409 million of notes in the manager’s third broadly syndicated CLO offering of the year.

Also, HalseyPoint Asset Management LLC closed Tuesday on $498.12 million of notes in the manager’s second new broadly syndicated CLO deal priced in 2020.

In other activity, MJX Asset Management LLC closed Tuesday on its previously reported $451.87 million Venture 40 CLO, Ltd./Venture 40 CLO, LLC broadly syndicated CLO deal.

The CLO sold $270 million of the class A-1 senior secured floating-rate notes at Libor plus 136 basis points.

Looking at the secondary market, high-grade CBO/CDO/CLO paper improved on Monday.

In the previous session, $228.74 million of high-grade CBO/CDO/CLO notes were traded at an average price of 99.10, according to Trace.

In the same session last week, $324.98 million of investment-grade CBO/CDO/CLO notes were traded at an average price of 98.30.

In its deal, Ares CLO Management priced $409 million of notes due Oct. 25, 2031 in the new CLO deal, according to market sources.

Ares LVII CLO Ltd./Ares LVII CLO LLC sold $256 million of the class A floating-rate notes at Libor plus 132 bps.

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