Cairn taps Europe’s CLO market; Angelo Gordon markets $504.7 million CLO offering

By Cristal Cody

Tupelo, Miss., Sept. 29 – New deal action in the collateralized loan obligation market on Friday included a euro-denominated CLO offering from Cairn Loan Investments LLP.

The CLO manager priced the Cairn CLO VIII BV transaction via Goldman Sachs International, according to a market source. Final pricing details were not immediately available.

In the U.S. primary market, Angelo, Gordon & Co., LP plans to price a $504.7 million CLO.

New euro CLO deal volume totals about €12 billion year to date, while more than $70 billion of new dollar-denominated CLOs have priced in 2017, according to market sources.

Northwoods XVI CLO

Angelo Gordon is marketing $504.7 million of notes due Nov. 15, 2030 in the Northwoods Capital XVI, Ltd./Northwoods Capital XVI, LLC deal, according to a market source.

The offering is expected to include $317.5 million of class A floating-rate notes (AAA); $60 million of class B floating-rate notes; $30 million of class C floating-rate notes; $27.5 million of class D floating-rate notes; $25 million of class E floating-rate notes and $44.7 million of subordinated notes.

Barclays is the placement agent.

Angelo Gordon has priced one new CLO and refinanced two vintage CLOs year to date.

The alternative investment manager is based in New York.

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