February CLO primary action resumes; CreekSource, Crestline Denali remain in pipeline

By Cristal Cody

Tupelo, Miss., Feb. 25 – New February CLO pricing action includes deals from Credit Suisse Asset Management, LLC and Neuberger Berman Fixed Income LLC, according to market sources on Thursday.

The prints came on the heels of Prudential Investment Management, Inc. pulling its $507.75 million Dryden 42 Senior Loan Fund/Dryden 42 Senior Loan Fund LLC transaction via BNP Paribas Securities Corp. from the pipeline.

Credit Suisse Asset Management priced $504.75 million of notes due 2027 in the Madison Park Funding XX Ltd./Madison Park Funding XX LLC deal. J.P. Morgan Securities LLC was the placement agent. Final pricing details were not available by press time.

Neuberger Berman Fixed Income sold $361.5 million of notes due April 20, 2027 in the Neuberger Berman CLO XXI, Ltd./Neuberger Berman CLO XXI, LLC offering. Morgan Stanley & Co. LLC was the placement agent. Final pricing details were not immediately available.

Several deals are being marketed and expected to price on the near-term horizon, including the $300 million Mill Creek CLO II, Ltd./Mill Creek CLO II LLC transaction from CreekSource LLC. Goldman Sachs & Co. will arrange the Rule 144A-eligible deal.

Crestline Denali Capital, LP also plans to offer $358.28 million of notes in the Rule 144A-eligible Denali Capital CLO XII, Ltd./Denali Capital CLO XII LLC transaction. BNP Paribas Securities Corp. is the placement agent.

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