ICG, Barings price broadly syndicated CLOs; Antares brings million middle market CLO

By Cristal Cody

Tupelo, Miss., Oct. 29 – New CLO market supply includes broadly syndicated and middle-market issuance.

ICG Debt Advisors LLC brought $401.8 million of notes in the manager’s first CLO of the year.

Barings LLC priced $349.1 million of notes in a new broadly syndicated CLO offering.

In the CLO middle-market space, Antares Capital Advisers LLC sold $596.24 million of notes.

In other activity, Five Arrows Managers North America LLC closed Thursday on its previously reported $302.2 million Ocean Trails CLO X/Ocean Trails CLO X LLC broadly syndicated transaction.

Ocean Trails CLO X priced $160 million of class A-1 floating-rate notes at Libor plus 155 basis points.

New Mountain Credit CLO Advisors LLC also closed Thursday on its previously reported $348.7 million New Mountain CLO 1 Ltd./New Mountain CLO 1 LLC deal, which priced $197 million of the class A-1 senior secured floating-rate notes at Libor plus 155 bps.

Nearly $70 billion of dollar-denominated broadly syndicated CLOs and more than $6 billion of middle-market CLOs have priced year to date, sources report.

In its deal, ICG Debt Advisors sold $401.8 million of notes due Oct. 22, 2031 in the new deal, according to market sources.

ICG US CLO 2020-1, Ltd./ICG US CLO 2020-1 LLC priced $248 million of the class A-1 floating-rate notes at Libor plus 140 bps.

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