About $2.5 billion of CLOs in pipeline; GSO/Blackstone, RAIT, NorthStar, Oak Hill to price

By Cristal Cody

Tupelo, Miss., Dec. 11 – More than $105 billion of U.S. CLO deals have priced year to date and at least $2.5 billion of transactions are expected to price before the month ends, according to Prospect News data and market sources.

CLO managers including GSO/Blackstone Debt Funds Management LLC, RAIT Partnership LP, NorthStar Realty Finance Corp. and Oak Hill Advisors LP are in the deal pipeline.

GSO/Blackstone Debt Funds Management plans to price the $506.65 million Webster Park CLO Ltd./Webster Park CLO LLC deal via Citigroup Global Markets Inc.

RAIT Partnership is offering $348.9 million of notes in the CRE CLO transaction, RAIT 2015-FL5, LLC, via Barclays.

Oak Hill Advisors is marketing $606 million of notes in the OHA Credit Partners XII, Ltd./OHA Credit Partners XII LLC deal. Goldman Sachs & Co. is the placement agent.

New issue spreads are ending the year weaker, according to market analysts.

CLO AAAs are on average in the Libor plus 160 basis points area, while BB-rated notes have priced recently in the Libor plus 800 bps area. B-rated tranches have been placed as wide as Libor plus 1,100 bps over the past month.

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