Spire brings euro CLO; CarVal prices $732.75 million; Octagon Credit resets notes

By Cristal Cody

Tupelo, Miss., Feb. 14 – Spire Partners LLP priced €447.8 million of notes due 2032 in a new euro-denominated CLO transaction on Thursday.

The European primary market has picked up in February with a handful of CLO deals priced this month.

In the U.S. broadly syndicated primary market, CarVal CLO Management, LLC priced $732.75 million of notes.

Elsewhere, refinancing action is resuming in 2019 with reported vintage deals being repriced.

Octagon Credit Investors, LLC closed Thursday on a $725.7 million second refinancing of a 2014 vintage CLO transaction.

The refinanced notes were admitted for trading on Thursday on the global exchange market, according to a notice from Euronext Dublin.

In its deal, Spire Partners priced €447.8 million of notes due April 17, 2032 in the Aurium CLO V DAC transaction on Thursday, according to a market source.

Final pricing details were not immediately available.

Meanwhile, CarVal CLO Management priced $732.75 million of notes due April 20, 2032 in the CarVal CLO II Ltd. deal, according to a market source.

CarVal CLO II sold $300 million of class A loans at Libor plus 148 basis points, $139 million of class A-N floating-rate notes at Libor plus 148 bps and $25 million of 4.09% class A-F notes at the top of the capital structure.

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