Neuberger, Angelo Gordon, Regiment Capital price CLOs; West Gate returns to primary

By Cristal Cody

Tupelo, Miss., Dec. 1 – Details emerged on new CLO issuance from Neuberger Berman Fixed Income LLC, Angelo, Gordon & Co., LP, Regiment Capital Management, LLC and West Gate Horizons Advisors, LLC, which returned to the primary market for the first time in 2014, sources said.

“First tier managers are getting in the 150 basis points context,” one informed source said.

Neuberger Berman Fixed Income priced the AAA-rated tranche of notes in the Neuberger Berman CLO XVIII, Ltd./Neuberger Berman CLO XVIII, LLC deal at Libor plus 148 bps, according to a market source.

Angelo, Gordon & Co. placed the AAA slice in its CLO transaction at Libor plus 160 bps, a source said.

Regiment Capital Management priced the AAA notes in the Cavalry CLO V, Ltd./Cavalry CLO V, LLC offering on the tight side of recent deals at Libor plus 137 bps, a market source said.

West Gate Horizons Advisors sold the AAA-rated tranche in the Ocean Trails CLO V/Ocean Trails CLO V LLC transaction at Libor plus 150 bps, according to a market source.

Neuberger Berman Fixed Income priced $512.85 million of notes due Nov. 14, 2025 in the Neuberger Berman CLO XVIII transaction via Citigroup Global Markets Inc., according to a market source.

The CLO sold $307.5 million of class A-1 senior secured floating-rate notes at Libor plus 148 bps.

The Chicago-based firm, part of Neuberger Berman Group, LLC, brought two CLO transactions in 2013.

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