Highbridge, MJX, NewStar Financial, Oaktree, ICG tap CLO market; December supply thin

By Cristal Cody

Tupelo, Miss., Dec. 23 – CLO managers brought more than $2.5 billion of issuance in the final weeks of December, bringing year-to-date global issuance to about $160 billion, according to market sources and data compiled by Prospect News.

“CLO supply continued to tread deeper into record territory as a last push in the final full week of the year,” J.P. Morgan Securities LLC analysts said in a note. “Even after the bumper week, December supply represents the second quietest month of the year with $8.6 billion in deals printing throughout the month.”

Credit Suisse Asset Management, LLC priced $685.8 million of notes due Jan. 27, 2026 in a CLO transaction upsized from $610 million, according to a market source.

Highbridge Principal Strategies LLC priced $518.5 million of notes due Jan. 21, 2026 in a CLO transaction via Morgan Stanley & Co. LLC, a source said.

ICG Debt Advisors LLC priced $411.3 million of notes due Jan. 25, 2027 in a CLO offering, according to a source.

MJX Asset Management LLC priced $618.2 million of notes in the Venture XIX CLO, Ltd./Venture XIX CLO LLC transaction, according to a market source.

NewStar Financial, Inc. priced a $407.5 million middle-market CLO deal via Citigroup Global Markets Inc., a source said.

In the Europe primary market, Oaktree Capital Management (UK) LLP priced €375.1 million of notes in the Arbour CLO II Ltd. transaction, according to a source.

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