Partners prices $407 million CLO; Investcorp prints euro CLO; 325 Fillmore brings reset

By Cristal Cody

Tupelo, Miss., Aug. 16 – In new dollar-denominated CLO issuance, Partners Group US Management CLO LLC priced $407 million of notes in the manager’s second broadly syndicated deal of the year.

The AAA-rated tranche priced 6 basis points tighter than where the manager’s class A notes came in its first CLO offering earlier in the year.

Looking at the European primary market, Investcorp Credit Management EU Ltd. brought its second new CLO transaction of 2019. The CLO manager priced €477.88 million of notes in the offering.

Meanwhile, the refinancing space continue to see steady activity. 325 Fillmore LLC priced $333.22 million of notes in a second refinancing of a vintage 2013 CLO deal.

In other market activity, leveraged loan outflows continued with a $790 million outflow for the past week ended Wednesday, according to a BofA research note released on Friday. Last week, the space saw $730 million of outflows.

In its deal, Partners Group US Management CLO priced $407 million of notes due July 15, 2032 in the CLO offering that closed on Thursday, according to a market source.

Pikes Peak CLO 4, Ltd. sold $256 million of the class A senior secured floating-rate notes at Libor plus 137 bps.

BofA Securities, Inc. was the placement agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.