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AGL, Ballyrock price; GC sells $677.53 million middle-market CLO; 325 Fillmore refinances
By Cristal Cody
Tupelo, Miss., Oct. 20 – AGL Credit Management LP tapped the CLO primary market with $550 million of notes in the manager’s sixth broadly syndicated CLO deal issued this year.
Meanwhile, Ballyrock Investment Advisors LLC sold $397.3 million of notes in the manager’s second CLO offering of the year.
In the middle-market space, GC Investment Management LLC priced $677.53 million of notes in a new middle-market CLO.
The refinancing space also remains active with reprints of fixed-rate tranches in October.
325 Fillmore LLC refinanced the fixed-rate tranche in a partial refinancing of a 2018 broadly syndicated CLO.
More than $60 billion of new broadly syndicated CLOs have priced this year, while middle-market volume totals over $6 billion year to date.
About $30 billion of CLO notes have been refinanced so far this year, according to market sources.
In its deal, AGL Credit Management priced $550 million of notes due Oct. 20, 2031 in the new broadly syndicated CLO, according to market sources.
AGL CLO 8 Ltd./AGL CLO 8 LLC sold $316 million of class A-1 senior secured floating-rate notes at Libor plus 150 basis points at the top of the capital stack.
Mizuho Securities USA LLC was the placement agent.
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