Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fifth Street SLF II Ltd./Fifth Street SLF II LLC > News item |
Middle-market volume tops $4 billion; Eagle Point CLO portfolio faces pricing pressure
By Cristal Cody
Tupelo, Miss., Sept. 9 – More than $4 billion of middle-market CLOs have priced year to date following two new deals in September, according to market sources and Prospect News data on Wednesday.
NewStar Financial, Inc. priced $397.8 million of notes due 2027 in its second middle-market CLO deal this year.
The NewStar Commercial Loan Funding 2015-2 LLC offering priced via Wells Fargo Securities, LLC. Final pricing details were not available by press time.
NewStar Financial, a Boston-based middle-market commercial lender, priced three CLO transactions in 2014.
Fifth Street CLO Management LLC also was in the primary market this month with its previously reported $416.6 million middle-market CLO, Fifth Street SLF II Ltd./Fifth Street SLF II LLC.
CLO managers priced $7.2 billion of middle-market CLOs in 2014, according to market sources.
In other activity on Wednesday, Eagle Point Credit Co. Inc. announced investments in its CLO portfolio “faced pricing pressure” in August, but the company does not anticipate a material change in the internal return estimates of its CLO equity positions.
“Over the last month, global markets faced significant price volatility,” Eagle Point Credit said in a news release to update its portfolio information for the month ended Aug. 31. “The company believes that the volatility was prompted by changes in oil and other commodity prices, among other macro factors.”
© 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.