| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for AGL CLO 5 LLC > News item |
Onex prices 251.5 million CLO; BlueBay brings 250.5 million deal; secondary better
By Cristal Cody
Tupelo, Miss., June 17 The European CLO primary market is picking up this week with two new reported transactions.
Onex Credit Partners, LLC priced 251.5 million of notes in the managers first euro-denominated CLO offering of the year.
Also, BlueBay Asset Management LLP sold 250.5 million of notes in its first euro-denominated broadly syndicated CLO deal.
In other activity, AGL Credit Management LP closed Wednesday on its previously reported $600 million AGL CLO 5 Ltd./AGL CLO 5 LLC transaction. The CLO priced $355.8 million of class A-1 floating-rate notes at Libor plus 205 basis points at the top of the capital structure.
AGL has priced three CLOs year to date.
More than $28 billion of dollar-denominated CLOs and more than 7 billion of European CLOs have priced so far this year, according to market sources.
Looking at the securitized secondary market, trading volume climbed higher in the previous session, according to Trace data.
Secondary market volume included $854.83 million of high-grade CBO/CDO/CLO securities and $408.05 million of lower-rated paper on Tuesday.
Volume was up from $537.83 million of high-grade issues and $213.46 million of non-high-grade paper traded on Monday.
High-grade CBO/CDO/CLO paper averaged higher at 97.30 in the previous session, and lower-rated paper traded better at an average 79.40.
On Monday, investment-grade issues averaged 96.80, while non-high-grade paper averaged 69.70.
Onex brings OCP Euro CLO
Onex Credit Partners priced 251.5 million of notes due Jan. 22, 2033 in its CLO offering, according to a market sources.
OCP Euro CLO 2020-4 DAC sold 145 million of class A floating-rate notes at Euribor plus 175 bps in the AAA-rated tranche.
Credit Suisse Securities (Europe) Ltd. was the placement agent.
The deal is backed primarily by broadly syndicated euro-denominated senior secured leveraged loans and bonds.
The private equity firm is based in Toronto.
BlueBay prices BBAM CLO
BlueBay Asset Management priced 250.5 million of notes due Jan. 22, 2033 in its new CLO deal, according to market sources.
BBAM European CLO I DAC sold 140 million of class A floating-rate notes at Euribor plus 160 bps in the senior tranche.
Credit Suisse Securities was the placement agent.
The deal is backed primarily by euro-denominated broadly syndicated leveraged loans and bonds.
BlueBay Asset Management is a London-based subsidiary of Royal Bank of Canada.
© 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.