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October CLO deal pipeline shapes up with ICG, CSAM; year-to-date volume nearly $90 billion
By Cristal Cody
Tupelo, Miss., Oct. 7 – New CLO issuance is expected in October from ICG Debt Advisors LLC and Credit Suisse Asset Management, LLC.
U.S. CLO volume year to date is nearly $90 billion, according to Prospect News data.
ICG Debt Advisors is offering $412.5 million of notes due 2028 in the manager’s second CLO deal of the year.
Also coming up in the near-term pipeline, Credit Suisse Asset Management, LLC plans to price $819.25 million of notes due Oct. 22, 2026 in the Atrium XII/Atrium XII LLC transaction. Credit Suisse Securities (USA) LLC is the placement agent.
In new primary action, Eaton Vance Management priced a $409 million CLO deal, Eaton Vance CLO 2015-1 Ltd./Eaton Vance CLO 2015-1, LLC, via Wells Fargo Securities LLC, according to a market source. Final pricing details were not available by press time.
ICG Debt Advisors plans to price $412.5 million of notes in the ICG US CLO 2015-2, Ltd./ICG US CLO 2015-2 LLC transaction, according to a market source.
The deal includes $3 million of class X senior term notes (Aaa); $256 million of class A senior term notes (Aaa); $49.25 million of B senior term notes (Aa2); $19 million of class C deferrable mezzanine term notes (A2); $23.75 million of class D deferrable mezzanine term notes (Baa3); $41.5 million of class E deferrable junior term notes (Ba3) and $41.5 million of subordinated notes.
Morgan Stanley & Co. LLC is the placement agent.
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