Guggenheim, Och-Ziff, Alcentra refinance CLOs; Antares plans deal; secondary trading light

By Cristal Cody

Tupelo, Miss., April 18 – The wave of refinancings in the CLO space continues to remain strong.

Details emerged about three more vintage deals that have refinanced with lower spreads.

Guggenheim Partners Investment Management LLC refinanced $331 million of notes from one tranche in a 2015 CLO.

Och-Ziff Loan Management LP refinanced $702.75 million of notes from a vintage 2014 CLO.

Alcentra NY, LLC sold $349.7 million of notes in a refinancing of a 2013 transaction.

More than $60 billion of U.S. CLOs have been refinanced year to date, according to market sources.

Looking ahead to new supply, Antares Capital Advisers LLC is offering $1,817,880,000 of notes in a debut middle-market CLO.

In other activity, secondary trading was light to start the post-holiday week in the securitized market.

On Monday, $68.29 million of high-grade CBO/CDO/CLO issues and $86.2 million of non-investment-grade securities were traded, according to Trace.

In its deal, Guggenheim Partners Investment Management priced $331 million of class A-1-R senior secured floating-rate notes due April 15, 2027 (Aaa/AAA) at Libor plus 121 basis points in the refinancing of a 2015 CLO tranche, according to a notice of executed supplemental indenture on Monday.

MUFG arranged the refinancing of the Kitty Hawk CLO 2015-1 LLC/Kitty Hawk CLO 2015-1 Ltd. notes.

Proceeds were used on Monday to redeem the original class A-1 notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.