Partners sells $301.3 million CLO; Guggenheim prices €281.65 million; euro ratings steady

By Cristal Cody

Tupelo, Miss., May 13 – Partners Group US Management CLO LLC priced $301.3 million of notes in a quick-to-market CLO offering.

The deal is the manager’s second broadly syndicated CLO transaction year to date.

The CLO has a one-year non-call period and a one-year reinvestment period.

Guggenheim Partners Europe Ltd. tapped the European primary market with a new €281.65 million broadly syndicated CLO, also with a short one-year non-call period and a one-year reinvestment period.

Meanwhile, ratings downgrades continued for dollar-denominated CLOs this past week, while euro tranches held fast.

In its deal, Partners Group US Management CLO priced $301.3 million of notes due Aug. 18, 2030 in the manager’s second broadly syndicated CLO offering of the year, according to a market source.

Pikes Peak CLO 6, Ltd./Pikes Peak CLO 6, LLC sold $178 million of class A floating-rate notes at Libor plus 190 basis points in the AAA-rated tranche.

Credit Suisse Securities (USA) LLC was the placement agent.

Separately, Guggenheim Partners Europe priced €281.65 million of notes due May 20, 2031 in the new Bilbao CLO III DAC offering, according to market sources.

The CLO sold €154.25 million of class A-1 floating-rate notes at Euribor plus 144.4 bps.

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