CSAM brings $775.01 million CLO; CIFC prices fourth deal of year; Alcentra downsizes

By Cristal Cody

Tupelo, Miss., Aug. 25 – Details emerged on new CLO issuance brought by Credit Suisse Asset Management, LLC and CIFC Asset Management LLC.

Credit Suisse Asset Management priced an upsized $775.01 million deal.

CIFC Asset Management brought $512.8 million of notes in its fourth new CLO offering of the year.

In other new issuance, Alcentra NY LLC priced a downsized $443 million CLO transaction, according to a market source.

Alcentra originally planned to offer $514.45 million of notes due Oct. 20, 2027 in the Shackleton 2015-VIII CLO, Ltd./Shackleton 2015-VIII CLO, LLC transaction.

Final pricing details were not available by press tine, but the AAA-rated tranche priced at Libor plus 151 basis points, the source said.

J.P. Morgan Securities LLC was the placement agent.

New York-based Alcentra, part of BNY Alcentra Group Holdings, Inc., has priced two U.S. CLO transactions in 2014.

Credit Suisse Asset Management priced a $775.01 million CLO deal, upsized from $620 million, according to a market source.

Madison Park Funding XVIII Ltd./Madison Park Funding XVIII LLC sold $453.75 million of class A senior secured floating-rate notes (Aaa/AAA) at Libor plus 147 bps at the top of the capital structure.

CIFC Asset Management priced $512.8 million of notes due 2027 in the CIFC Funding 2015-IV, Ltd./CIFC Funding 2015-IV, LLC deal, according to a market source.

The CLO sold $287.2 million of class A-1a floating-rate notes at Libor plus 144 bps in the AAA-rated tranche.

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