Angelo, Gordon & Co., Och-Ziff market deals; Ares discusses $1.26 billion CLO offering

By Cristal Cody

Tupelo, Miss., Aug. 4 – Angelo, Gordon & Co., LP plans to return to the primary market a second time this year with a $615.8 million deal, according to a market source on Monday.

The Northwoods Capital XII Ltd./Northwoods Capital XII LLC transaction is expected to place six tranches of notes, including one tranche of subordinated notes.

Goldman Sachs & Co. will arrange the offering.

The transaction is expected to close later in September.

The New York City-based alternative investment manager priced one CLO offering in 2013.

Och-Ziff Loan Management LP plans to bring the firm’s third CLO offering of the year.

The OZLM VIII, Ltd./OZLM VIII, LLC deal includes $518.5 million of notes, according to a market source.

BofA Merrill Lynch is the underwriter.

Och-Ziff Loan Management was in the primary market earlier in the year with the $621.25 million OZLM VI CLO, Ltd./OZLM VI CLO, LLC deal in March and the $824.75 million OZLM VII, Ltd./OZLM VII, LLC offering in June.

The subsidiary of New York City-based alternative asset manager Och-Ziff Capital Management Group LLC placed three CLOs in 2013.

Meanwhile Ares Management LLC confirmed its $1.26 billion CLO deal that priced on Wednesday is the largest in the firm’s history, according to a news release on Monday.

The Ares XXXI CLO Ltd./Ares XXXI CLO LLC deal priced the AAA-rated tranche of notes at Libor plus 144 basis points, according to a market source.

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

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