Blackstone/GSO offers CLO; Anchorage, THL to refinance; high-grade secondary strong

By Cristal Cody

Eureka Springs, Ark., Sept. 28 – CLO pricing and refinancing activity is expected to remain strong over the next few weeks, according to market sources.

Blackstone/GSO Debt Funds Management Europe Ltd. plans to price a €415.1 million CLO in the firm’s third European deal of the year.

In refinancing activity, Anchorage Capital Group, LLC plans to refinance $516.7 million of notes in a reset of a vintage 2012 CLO.

Also, THL Credit Advisors LLC plans to refinance $514.33 million of notes in a vintage 2012 CLO.

Year to date, about $6 billion of CLOs have been refinanced, according to J.P. Morgan Securities LLC.

High-grade securitized secondary volume has been strong over the first two sessions of the week.

On Tuesday, $356 million traded in 38 high-grade CBO/CDO/CLO issues and $385.3 million traded in 30 non-investment-grade CBO/CDO/CLO securities, according to Trace.

In the secondary market on Monday, 29 high-grade CBO/CDO/CLO issues totaling $388.5 million and 19 non-investment-grade CBO/CDO/CLO securities totaling $85.33 million were traded.

Blackstone/GSO Debt Funds Management Europe is marketing €415.1 million of notes due 2029 in a new euro-denominated collateralized loan obligation transaction, according to a market source.

Citigroup Global Markets Ltd. will arrange the offering.

The CLO is backed primarily by euro-denominated secured senior loans.

Blackstone/GSO has priced two euro-denominated CLOs year to date.

The Dublin-based manager is an affiliate of Blackstone Group LP.

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