Alcentra NY, Brigade refinance CLOs; Redding Ridge plans new issue; loan outflows drop

By Cristal Cody

Tupelo, Miss., Feb. 7 – In CLO market activity, Alcentra NY, LLC priced $435 million of notes in a refinancing of a vintage 2017 deal.

Also, Brigade Capital Management, LLC sold $424.82 million of notes in a second refinancing of a 2015 CLO.

Meanwhile, Redding Ridge Asset Management, LLC plans to price $501.5 million of notes in a new broadly syndicated CLO offering.

In other activity, outflows from leveraged loans fell to $300 million for the past week ended Wednesday from $540 million in the prior week, according to a BofA Securities, Inc. global research note released on Friday.

In its deal, Alcentra NY priced $435 million of notes due April 20, 2029 in the refinancing deal, according to market sources.

Shackleton 2017-X CLO, Ltd./Shackleton 2017-X CLO LLC sold $320 million of class A-R senior floating-rate notes at Libor plus 104 basis points in the AAA-rated tranche.

Separately, Brigade Capital Management priced $424.82 million of notes due July 18, 2030 in a second refinancing of Battalion CLO VIII Ltd./Battalion CLO VIII LLC, according to a notice of revised proposed supplemental indenture on Thursday.

Battalion CLO VIII sold $321.4 million of class A-1-R2 senior secured floating-rate notes at Libor plus 107 bps at the top of the capital stack.

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