Exantas taps CLO market; Och-Ziff prices its first CLO of 2018; refinancings active

By Cristal Cody

Tupelo, Miss., June 8 – Several CLO managers priced new CLO deals and refinanced vintage transactions, according to details that emerged on Friday.

Exantas Capital Corp. priced a $514.1 million commercial real estate-backed CLO deal.

“We are very pleased to have executed the company’s largest CRE CLO issuance,” Robert C. Lieber, chief executive officer of the company, said in a news release.

In new broadly syndicated European CLO issuance, Och-Ziff Europe Loan Management Ltd. priced €412.8 million of notes in the manager’s first new offering of the year.

Looking at the refinancing space, GC Investment Management LLC closed Friday on a $382.5 million reissue of two tranches from a 2016 CLO.

Also, American Money Management Corp. sold $368 million of notes in a reset and refinancing of a vintage 2016 deal.

In addition, WhiteHorse Capital Management, LLC refinanced $389 million of notes from a 2015 CLO.

In its deal, Exantas Capital priced $514.1 million of floating-rate notes and preferred shares in a commercial real estate-backed CLO transaction, according to a market source and a company news release on Friday.

Exantas Capital Corp. 2018-RSO6, Ltd. priced the $290.5 million of class A notes at Libor plus 83 basis points.

The CLO has a 4.5-year weighted average life and a maturity of June 15, 2035.

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