Barings prices $758.9 million CLO; Onex Credit Partners brings $614.1 million CLO

By Cristal Cody

Tupelo, Miss., June 1 – In the CLO primary market, Barings LLC priced a $758.9 million deal – the manager’s third new CLO of 2018.

Also in the primary market, Onex Credit Partners, LLC sold $614.1 million of notes in the manager’s first CLO offering of the year.

Year to date, more than $57 billion of dollar-denominated CLO have priced, according to Prospect News data.

In the securitized secondary market on Thursday, $132.04 million of high-grade issues and $148.09 million of lower-rated CDO/CBO/CLO securities traded, according to Trace.

In its deal, Barings sold $758.9 million of notes due July 20, 2029 in the manager’s third new CLO offering of 2018, according to a market source.

Barings CLO Ltd. 2018-III/Barings CLO Ltd. 2018-III LLC priced the $420 million of class A-1 floating-rate notes at Libor plus 95 basis points.

Morgan Stanley & Co. LLC was the placement agent.

Meanwhile, Onex Credit Partners priced $614.1 million of notes due July 20, 2031 in the OCP CLO 2018-15 Ltd./OCP CLO 2018-15 LLC deal, according to a market source.

The CLO sold $369 million of class A-1 floating-rate notes at Libor plus 110 bps at the top of the capital structure.

BofA Merrill Lynch was the placement agent.

© 2015 Prospect News.
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