HPS sells $410.15 million CLO; Invesco taps market; non-high-grade trading volume jumps

By Cristal Cody

Eureka Springs, Ark., Dec. 6 – Two CLO managers priced new CLO offerings amid the continued heavy refinancing activity in the market.

HPS Investment Partners, LLC placed a $410.15 million CLO offering in the firm’s second new deal of the year.

Invesco RR Fund LP brought a $614 million CLO deal, the company’s third new transaction in 2016.

Non-investment-grade securitized secondary trading volume soared on Monday to $652.6 million, according to Trace.

On Friday, non-investment-grade CBO/CDO/CLO issues totaling $146.7 million were traded.

HPS Investment Partners priced $410.15 million of notes due Jan. 20, 2028 in the CLO offering, according to a market source.

HPS Loan Management 10-2016 Ltd./HPS Loan Management 10-2016 LLC sold $248 million of class A-1 senior secured floating-rate notes at Libor plus 141 basis points in the senior tranche.

Citigroup Global Markets Inc. was the placement agent.

In its deal, Invesco RR Fund, a majority owned affiliate of Invesco Senior Secured Management, Inc., sold $614 million of notes due Oct. 18, 2028 in a new broadly syndicated CLO deal, according to a market source.

Riserva CLO Ltd. priced $384 million of class A floating-rate notes at Libor plus 146 bps at the top of the capital structure.

Credit Suisse Securities (USA) LLC was the placement agent.

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