CLO refinancing streak continues; Eaton Vance, Och-Ziff, HarbourView refinance 2014 CLOs

By Cristal Cody

Tupelo, Miss., Feb. 16 – The strong pace of refinancing vintage CLO deals continues in February with details of three more transactions emerging.

Eaton Vance Management refinanced $435.25 million of notes from a 2014 CLO.

Och-Ziff Loan Management LP refinanced $435 million of notes from a 2014 transaction.

HarbourView Asset Management Corp. priced $327.92 million of notes in a refinancing of a 2014 transaction.

More than $14 billion of vintage 2013 and 2014 U.S. CLOs have been refinanced year to date, according to market sources.

Eaton Vance Management priced $435.25 million of notes due July 15, 2026 at par in a refinancing of Eaton Vance CLO 2014-1 Ltd./Eaton Vance CLO 2014-1, LLC, according to a market source.

Eaton Vance CLO 2014-1 sold $315.5 million of class A-R senior secured floating-rate notes at Libor plus 120 basis points in the senior tranche.

Separately, Och-Ziff Loan Management refinanced $435 million of notes due Jan. 20, 2027 at par in the OZLM IX, Ltd. CLO transaction, according to a market source.

OZLM IX priced $317 million of floating-rate notes at Libor plus 122 bps in the class A-1R tranche.

And HarbourView Asset Management priced $327.92 million of HarbourView CLO VII, Ltd. notes due Nov. 16, 2026 at par in a refinancing of the 2014 transaction, a market source said.

The CLO sold $228 million of class A1-R floating-rate notes at Libor plus 125 bps at the top of the capital structure.

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