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Vibrant Credit Partners sells $509.15 million CLO; Rockford Tower prices its second new CLO
By Cristal Cody
Tupelo, Miss., Aug. 8 – Two more CLO managers have tapped the primary market in August.
Vibrant Credit Partners, LLC priced a new $509.15 million CLO transaction.
Rockford Tower Capital Management, LLC sold $506.3 million of notes in its second CLO offering of the year. Spreads on the deal tightened across the capital stack from where Rockford Tower’s first CLO in April came.
The AAA-rated notes priced 10 basis points better than where the AAA notes in the Rockford Tower CLO 2017-1, Ltd./Rockford Tower CLO 2017-1, LLC transaction came on April 4.
New CLO issuance totals more than $52 billion year to date, according to market sources.
Vibrant CLO VII prices
Vibrant Credit Partners priced $509.15 million of notes due Sept. 15, 2030 in the new deal, according to a market source.
Vibrant CLO VII Ltd./Vibrant CLO VII LLC sold $320 million of class A-1 floating-rate notes at Libor plus 127 bps in the senior tranche.
Citigroup Global Markets Inc. was the placement agent.
Vibrant Credit Partners will manage the CLO.
The CLO manager is an affiliate of New York-based money manager DFG Investment Advisors, Inc.
Rockford brings 2017-2
Rockford Tower Capital Management priced $506.3 million of notes due Oct. 15, 2029 in the offering, according to a market source.
Rockford Tower CLO 2017-2, Ltd./Rockford Tower CLO 2017-2, LLC sold $319.8 million of class A floating-rate notes at Libor plus 127 bps at the top of the capital structure.
J.P. Morgan Securities LLC arranged the offering.
Rockford Tower will manage the CLO.
The CLO manager has priced two CLOs year to date.
Rockford Tower Capital Management is a Delaware limited liability company.
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