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Carlyle GMS to price $498.7 million Carlyle Global Market Strategies CLO 2016-2 deal
By Cristal Cody
Eureka Springs, Ark., April 20 – Carlyle GMS CLO Management LLC plans to price $498.7 million of notes due May 15, 2028 in the firm’s second U.S. collateralized loan obligation deal of the year, according to a market source.
The Carlyle Global Market Strategies CLO 2016-2, Ltd./Carlyle Global Market Strategies CLO 2016-2 LLC offering includes $310 million of class A-1 floating-rate notes (/AAA); $70 million of class A-2 floating-rate notes; $31 million of class B deferrable floating-rate notes; $28 million of class C deferrable floating-rate notes; $8 million of class D-1 deferrable floating-rate notes; $13 million of class D-2 deferrable floating-rate notes and $38.7 million of subordinated notes.
Citigroup Global Markets Inc. is the placement agent.
Carlyle GMS CLO Management, a subsidiary of Carlyle Investment Management LLC, will manage the CLO.
The CLO has a two-year non-call period and a four-year reinvestment period.
The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.
Carlyle Investment Management has priced one U.S. CLO deal year to date. The firm brought to market five U.S. broadly syndicated CLO deals and one middle-market CLO offering in 2015.
The asset management firm is an affiliate of the Washington, D.C.-based Carlyle Group.
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