Year-end CLO pipeline fills; Oak Hill Advisors preps firm’s third CLO offering of year

By Cristal Cody

Tupelo, Miss., Dec. 1 – The year-end CLO deal pipeline is filling up with some issuers expected to tap the primary market in December.

Oak Hill Advisors LP is offering $606 million of notes in the firm’s third new CLO deal of the year.

CVC Credit Partners, LLC is expected in the near-term primary market with its fourth new CLO offering this year. CVC plans to price the $499.8 million Apidos CLO XXIII/Apidos CLO XXIII LLC transaction via Citigroup Global Markets Inc.

CLO managers have priced $132.8 billion of CLOs in the U.S. and European markets year to date, according to Prospect News data.

Oak Hill Advisors intends to price $606 million of notes due Jan. 23, 2027 in the OHA Credit Partners XII, Ltd./OHA Credit Partners XII LLC deal, according to a market source.

The deal includes $357 million of class A-1 floating-rate notes (/AAA); $27.6 million of class A-2 floating-rate notes; $60 million of class B floating-rate notes; $33 million of class C deferrable floating-rate notes; $28.4 million of class D deferrable floating-rate notes; $13 million of class D-2 deferrable floating-rate notes; $34.8 million of class E deferrable floating-rate notes; $10.2 million of class F deferrable floating-rate notes and $42 million of subordinated notes.

Goldman Sachs & Co. is the placement agent.

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