AllianceBernstein prices $405.43 million CLO; Napier Park prints; NXT taps market

By Cristal Cody

Tupelo, Miss., Dec. 8 – New CLO issuance includes offerings from AllianceBernstein LP, Napier Park Global Capital (U.S.) LP and NXT Capital Investment Advisers LLC.

AllianceBernstein subsidiary AB Broadly Syndicated Loan Manager LLC priced a $405.43 million broadly syndicated CLO.

Napier Park Global Capital also priced a $352.11 million broadly syndicated CLO offering.

NXT Capital Investment Advisers sold $452.78 million of notes in the manager’s first new middle-market CLO deal since 2017.

In other activity, several managers closed Tuesday on new offerings.

Kayne Anderson Capital Advisors, LP wrapped its $449 million Kayne CLO 9 Ltd./Kayne CLO 9 LLC deal, which sold $279 million of class A-1 floating-rate notes at Libor plus 140 basis points.

Onex Credit Partners, LLC settled its $399.95 million OCP CLO 2020-20 Ltd./OCP CLO 2020-20 LLC transaction with the $240 million tranche of class A-1 floating-rate notes placed at Libor plus 140 bps.

Palmer Square Capital Management LLC also closed on its $401.1 million Palmer Square CLO 2020-3 Ltd./Palmer Square CLO 2020-3, LLC offering. The $248 million of class A-1a floating-rate notes were priced at Libor plus 137 bps.

More than $78 billion of dollar-denominated broadly syndicated CLOs have priced year to date, according to market sources.

AllianceBernstein sells CLO

AB Broadly Syndicated Loan Manager priced $405,425,000 of notes due Jan. 15, 2033 in the new CLO offering, according to a market source.

AB BSL CLO 1 Ltd./AB BSL CLO 1 LLC priced $246 million of the class A-1a floating-rate notes at Libor plus 150 bps.

Morgan Stanley & Co. LLC was the placement agent.

The issue is collateralized primarily by broadly syndicated senior secured loans, cash and eligible investments.

AllianceBernstein is a New York-based asset management firm.

Regatta XVII CLO prints

Napier Park Global Capital priced $352.11 million of notes due Oct. 15, 2033 in its CLO issue, according to market sources.

Regatta XVII Funding Ltd./Regatta XVII Funding LLC sold $192 million of class A-1-A floating-rate notes at Libor plus 140 bps at the top of the capital structure.

BNP Paribas Securities Corp. was the placement agent.

The CLO is backed primarily by broadly syndicated first-lien senior secured loans, cash and eligible investments.

The asset management firm is based in New York.

NXT prices $452.78 million

NXT Capital Investment Advisers sold $452,775,000 of notes due Jan. 20, 2031 in the NXT Capital CLO 2020-1 LLC transaction, according to market sources.

NXT Capital CLO 2020-1 priced $241,875,000 of class A floating-rate notes at Libor plus 185 bps in the AAA-rated tranche.

Wells Fargo Securities LLC was the placement agent.

The CLO is backed primarily by middle-market senior secured term loans.

NXT Capital Investment Advisers is a subsidiary of NXT Capital LLC, a Chicago-based middle-market lending and financial services firm.

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