GLG Partners prices €352.78 million new CLO; Anchorage Capital, Symphony in market

By Cristal Cody

Tupelo, Miss., Feb. 4 – GLG Partners LP priced €352.78 million of notes in the manager’s first new European broadly syndicated CLO offering since 2018.

Euro-denominated new issue and refinancing supply has been active so far in 2020 with deals from managers including Investcorp Credit Management EU Ltd., Partners Group (UK) Management Ltd. and Accunia Fondsmaeglerselskab A/S.

In the dollar-denominated primary market, Symphony Asset Management LLC sold $407.4 million of notes in a new offering.

Also, Anchorage Capital Group, LLC closed Tuesday on a new $405.8 million broadly syndicated CLO deal.

In its deal, GLG Partners priced €352.78 million of notes due Oct. 15, 2032 in a European broadly syndicated CLO offering, according to market sources on Tuesday.

Man GLG Euro CLO VI DAC sold €217 million of class A senior secured floating-rate notes at Euribor plus 90 basis points in the AAA-rated tranche.

Barclays arranged the transaction.

Separately, Symphony Asset Management sold $407.4 million of notes in the new Symphony CLO XXII, Ltd. broadly syndicated CLO transaction, according to market sources.

The CLO priced $228 million of class A-1A floating-rate notes at Libor plus 129 bps at the top of the capital stack.

Natixis Securities Americas LLC arranged the transaction.

© 2015 Prospect News.
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