Blackstone/GSO, Ares, Jefferies price ahead of holiday week; Sankaty preps $415.25 CLO

By Cristal Cody

Tupelo, Miss., June 27 – Blackstone/GSO Debt Funds Management Europe Ltd., Ares Management Ltd. and Jefferies Finance LLC priced CLO deals in the U.S. and European primary markets on Friday, according to informed sources.

Blacktone/GSO brought the €413.25 million Phoenix Park CLO Ltd. transaction. The CLO priced the AAA notes at Euribor plus 135 basis points.

Ares Management raised €325 million in the Ares European CLO VII Ltd. deal and priced the AAA-rated tranche at Euribor plus 135 bps.

In the U.S. market, Jefferies Finance sold a $562.5 million CLO. The firm placed the AAA-rated notes at Libor plus 150 bps.

“Everybody tried to get deals done this week,” an informed source said on Friday. “Next week, we’ll only have two to three days that the markets will be open. A lot of people will be out next week.”

The bond markets will close early on Thursday and will close on July 4 for the Independence Day holiday.

More than $59 billion of CLOs have priced year-to-date, a source said.

Looking ahead, Sankaty Advisors LLC plans to bring a $415.25 million CLO deal, according to a market source.

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