European CLO primary market busy in December; Och-Ziff prices €413.9 million CLO

By Cristal Cody

Tupelo, Miss., Dec. 13 – Details emerged on a new European CLO transaction priced in December as the primary market remains busy into the end of the year.

Och-Ziff Europe Loan Management Ltd. placed €413.9 million of notes in the new CLO deal.

The primary market has seen three new deals price during the month, according to informed sources.

More than €40 billion of new and refinanced European CLOs have priced year to date, sources report.

Och-Ziff prices 10 tranches

Och-Ziff Europe Loan Management priced €413.9 million of notes due 2030 in 10 tranches in the CLO transaction, according to a market source.

OZLME III DAC priced the €225 million tranche of class A-1 senior secured floating-rate notes at Euribor plus 75 basis points.

Merrill Lynch International Inc. was the placement agent.

Och-Ziff has priced two euro CLOs year to date.

The CLO manager was in the European CLO primary market in November 2016 with its first deal, the €413 million OZLME BV transaction.

The London-based firm is part of alternative asset management Och-Ziff Capital Management Group LLC.

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