325 Fillmore prices $410.5 million CLO; secondary market spreads mostly unchanged in June

By Cristal Cody

Tupelo, Miss., June 27 – New CLO issuance included a deal from 325 Fillmore LLC.

The CLO manager priced $410.5 million of notes in eight tranches.

About $34 billion of new CLOs have priced year to date, according to market sources.

In the secondary market, spreads have been mostly flat in June, sources report. CLO AAA-rated spreads were quoted on Friday in the Libor plus 115 basis points area and B-rated notes in the Libor plus 750 bps area.

On Monday, $132.87 million of investment-grade CBO/CDO/CLO securities and $192.73 million of non-high-grade issues traded, according to Trace.

325 Fillmore prices new CLO

325 Fillmore sold $410.5 million of notes due July 15, 2029 in the new CLO deal, according to a market source.

Elevation CLO 2017-6, Ltd. priced $256 million of class A-1 senior secured floating-rate notes at a discount margin of Libor plus 128 bps in the senior tranche.

Goldman Sachs & Co. LLC was the placement agent.

The notes are backed primarily by broadly syndicated first lien senior secured corporate loans.

325 Fillmore is an affiliate of Denver-based ArrowMark Colorado Holdings LLC.

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