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Published on 2/24/2014 in the Prospect News CLO Daily.

CLO Calendar: Intermediate Capital Managers to price €360 million

February

MOUNTAIN HAWK III CLO, LTD.: $400 million CLO: Deutsche Bank Securities Inc. (placement agent); Western Asset Management Co. (CLO manager); Pasadena, Calif.-based fixed income manager; AAA tranche talked to price at Libor plus 155 basis points; pricing expected in late February.

ST. PAUL'S CLO IV LTD.: €360 million European CLO: Deutsche Bank AG, London Branch (placement agent); Intermediate Capital Managers, Ltd. (CLO manager); subsidiary of London-based Intermediate Capital Group plc; pricing expected in late February.

On The Horizon

CIT CLO 2013-1 LTD.: £223.47 million of notes due 2023; Deutsche Bank Securities Inc. (arranger); CIT Asset Management LLC (CLO manager); subsidiary of CIT Group Inc., a Livingston, N.J.- and New York City-based lender to small and middle-market businesses.

• £93.31 million of class A notes (/AAA/)

• £19.24 million of class B notes (/AA/)

• £22.01 million of class C deferrable notes (/A/)

• £88.91 million of subordinated notes

CVC CREDIT PARTNERS, LLC: European CLO transaction; Goldman Sachs & Co.; New York City-based subsidiary of London-based private equity firm CVC Capital Partners Ltd.

EATON VANCE MANAGEMENT: U.S. CLO offering: Boston-based investment management firm.

HARVEST VIII CLO LTD.: €310 million CLO; 3i Debt Management Investments Ltd. (CLO manager); subsidiary of London-based 3i Group plc.

JMP GROUP INC.: $350 million-$400 million CLO; JMP Credit Advisors LLC (CLO manager); San Francisco-based investment banking and asset management firm.

KVK CLO 2014-1 LTD./KVK CLO 2014-1 LLC: $413.2 million CLO; Goldman Sachs & Co. (placement agent); Kramer Van Kirk Credit Strategies LP (CLO manager); notes due April 2026; Chicago-based credit asset management firm; closes on March 15.

• $249.2 million of class A floating-rate notes (/AAA/)

• $47.6 million of class B floating-rate notes (/AA/)

• $34.4 million of class C deferrable floating-rate notes (/A/)

• $21.6 million of class D deferrable floating-rate notes (/BBB/)

• $19.2 million of class E deferrable floating-rate notes (/BB/)

• $4.8 million of class F deferrable floating-rate notes (/B/)

• $36.4 million of subordinated notes

MIDOCEAN CREDIT CLO II/MIDOCEAN CREDIT CLO II LLC: $414.75 million of notes due Jan. 29, 2025; Jefferies LLC (placement agent); MidOcean Credit Fund Management LP (CLO manager); affiliate of New York City-based MidOcean Partners.

• $250 million of class A floating-rate notes (/AAA/)

• $56 million of class B floating-rate notes (/AA/)

• $25 million of class C deferrable floating-rate notes (/A/)

• $21 million of class D deferrable floating-rate notes (/BBB/)

• $20 million of class E deferrable floating-rate notes (/BB/)

• $42.75 million of income notes

REDAN PARK ASSET MANAGEMENT LLC: $300 million CLO; C&Co/PrinceRidge LLC (placement agent); asset management firm owned by New York hedge fund Mead Park Holdings LP and Puerto Rico-based Doral Financial Corp.

STANIFORD STREET CLO: $400 million CLO; StormHarbour Securities LP (placement agent); Feingold O'Keefe Capital, LLC (CLO manager); Boston-based alternative asset investment firm.

STEELE CREEK INVESTMENT MANAGEMENT LLC: $350 million to $400 million CLO; Charlotte, N.C.-based subsidiary of Moelis & Co. LLC.

TELOS CLO 2013-5, LTD.: $350 million-$400 million CLO; Telos Asset Management LLC (CLO manager); subsidiary of New York-based Tiptree Financial Inc.


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