Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Antares Capital Advisers LLC > News item |
Ivy Hill, Antares price middle-market CLOs; Barings firms AAA spread; more supply eyed
By Cristal Cody
Tupelo, Miss., April 9 – The CLO primary market remains busy, with new deals priced in the broadly syndicated and middle markets in April.
Ivy Hill Asset Management LP priced a $1,009,500,000 middle-market deal on Friday in the CLO manager’s first transaction of the year. Ivy Hill Management placed one CLO transaction in 2017.
Also, Antares Capital Advisers LLC sold $707.1 million of notes in the manager’s first middle-market CLO offering of 2018. The deal is Antares’ third CLO transaction to date after the firm brought two CLOs to the primary market in 2017.
In the broadly syndicated primary market, Barings LLC sold $510.5 million of notes in the manager’s second new CLO deal of the year, placing the AAA tranche at Libor plus 93 basis points.
Barings had priced $562.8 million of notes in the Barings CLO Ltd. 2018-I/Barings CLO Ltd. 2018-I LLC transaction that closed on Thursday. The 2018-I CLO sold $357.5 million of class A-1 senior secured floating-rate notes at Libor plus 95 bps.
About $30 billion of broadly syndicated CLOs and about $5 billion of middle-market CLOs have priced year to date, according to a BofA Merrill Lynch analysts’ note released on Monday.
CLO supply is expected to remain elevated in the “new issue and refi/reset pipeline for the next month or so,” according to the note.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.