Octagon sells new CLO; KVK CLO prices; Carlyle active in primary, refinancing markets

By Cristal Cody

Tupelo, Miss., May 11 – Octagon Credit Investors, LLC and Kramer Van Kirk Credit Strategies LP are among CLO managers that have priced new deals in 2015, according to market sources.

Octagon Credit Investors priced a $758.9 million CLO transaction.

Kramer Van Kirk Credit Strategies brought $612 million of notes.

Details also emerged on CLO transactions from Carlyle Investment Management LLC, which priced a $610.3 million deal and refinanced $429.1 million of notes in a vintage 2012 CLO.

Octagon Credit Investors priced a $758.9 million CLO transaction, a source said.

Octagon Investment Partners XXIV, Ltd. sold $484.4 million of class A-1 floating-rate notes at Libor plus 145 basis points at the top of the capital structure.

Citigroup Global Markets Inc. was the placement agent.

Octagon Credit Investors will manage the CLO.

Meanwhile, Kramer Van Kirk Credit Strategies sold $612 million of notes in a CLO offering, a market source said.

KVK CLO 2015-1 Ltd. priced $387 million of class A floating-rate notes at Libor plus 158 bps in the senior tranche.

Goldman Sachs & Co. arranged the deal.

Kramer Van Kirk Credit Strategies will manage the CLO.

Separately, Carlyle Investment Management brought $610.3 million of notes due April 27, 2027 in a CLO transaction, according to a market source.

Citigroup Global Markets Inc. was the placement agent.

Carlyle Investment Management is the CLO manager.

© 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.