Diameter Capital sells CDO; New Mountain Credit prices CLO; Investcorp brings euro deal

By Cristal Cody

Tupelo, Miss., Oct. 8 – New securitized deal volume includes issuance in the CDO market.

Diameter Capital Partners LP issued $429.5 million of notes in a CDO transaction.

Meanwhile in the broadly syndicated space, New Mountain Credit CLO Advisors LLC priced $348.7 million of notes in the manager’s first deal this year.

In the European primary market, Investcorp Credit Management EU Ltd. priced a €419.56 million broadly syndicated CLO offering.

About $60 billion of dollar-denominated CLOs and more than €14 billion of euro-denominated CLOs have priced so far this year, according to market sources.

Diameter taps market

Diameter Capital Partners issued $429.5 million of notes due Oct. 25, 2038 in the CDO transaction, according to a market source.

Diameter Credit Funding III, Ltd. sold $198 million of 2.94% class A senior secured fixed-rate notes in the AAA-rated tranche.

GreensLedge Capital Markets LLC was the placement agent.

The offering is backed primarily by corporate bonds and loans.

Diameter Capital Partners is an investment firm based in New York.

New Mountain prices

New Mountain Credit CLO Advisors sold $348.7 million of notes due Oct. 15, 2032 in its CLO offering, according to market sources.

New Mountain CLO 1 Ltd./New Mountain CLO 1 LLC sold $197 million of class A-1 senior secured floating-rate notes at Libor plus 155 basis points at the top of the capital structure.

Wells Fargo Securities LLC was the placement agent.

The offering is collateralized mostly by broadly syndicated senior secured term loans.

New Mountain Credit CLO Advisors is a New York-based investment management firm.

Investcorp prints CLO

Investcorp Credit Management priced €419.56 million of notes due January 2034 in the new euro-denominated deal, according to market sources.

Harvest CLO XXV DAC sold €228.17 million of class A senior secured floating-rate notes at Euribor plus 110 bps in the senior tranche.

BNP Paribas Securities Corp. was the placement agent.

Investcorp is a subsidiary of Bahrain-based Investcorp Bank BSC.

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