Global CLO volume rises to more than $28 billion to date; new offerings in pipeline

By Cristal Cody

Eureka Springs, Ark., June 10 – Total global CLO issuance has climbed to more than $28 billion year to date in 68 deals following new offerings over the week, according to Prospect News data on Friday.

Teachers Advisors Inc. priced $455,545,000 of notes due July 20, 2028 in the TIAA CLO I Ltd./TIAA CLO I LLC transaction, as previously reported. Wells Fargo Securities, LLC was the placement agent.

In the euro-denominated primary market, Babson Capital Management (UK) Ltd. sold €409.8 million of notes due July 27, 2030 in the Babson Euro CLO 2016-1 BV deal previously reported earlier in the week. J.P. Morgan Securities plc arranged the offering.

Cairn Loan Investments LP also priced €362.93 million of notes due July 30, 2029 in the Cairn CLO VI BV transaction via Barclays.

Looking ahead, GSO/Blackstone Debt Funds Management LLC plans to price the Westcott Park CLO, Ltd./Westcott Park CLO LLC transaction via Wells Fargo.

Also, PineBridge Investments LLC intends to price $400 million of notes in the Galaxy XXII CLO, Ltd./Galaxy CLO XXII LLC offering. Goldman Sachs & Co. is the placement agent.

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