CIFC, GoldenTree, Denali, Steele Creek price; AAAs come 150 bps-160 bps range; AAs tighten

By Cristal Cody

Tupelo, Miss., March 18 – New CLO issuance from CIFC Asset Management LLC, GoldenTree Asset Management LP, Crestline Denali Capital, LP and Steele Creek Investment Management LLC pushed year-to-date volume to more than $21 billion, according to market sources.

Steele Creek Investment Management priced a $360.98 million transaction, while GoldenTree Asset Management brought a $553.05 million CLO offering.

Crestline Denali Capital raised $413.68 million of notes in a CLO deal.

CIFC Asset Management upsized its CLO offering to price $614.2 million of notes.

In the secondary market, CLO spreads were mostly unchanged, while AA notes have tightened about 10 bps since early March, a market source said.

CIFC Asset Management priced an upsized $614.2 million of notes due April 20, 2027 in a nine-tranche CLO deal, according to a source.

CIFC Funding 2015-I, Ltd./CIFC Funding 2015-I, LLC sold $340 million of class A-1 senior secured floating-rate notes at Libor plus 152 bps in the senior slice.

BNP Paribas Securities Corp. arranged the offering.

The transaction was upsized from $563.1 million.

CIFC Asset Management will manage the CLO.

GoldenTree Asset Management priced a $553.05 million seven-tranche CLO offering, according to a market source.

GoldenTree Loan Opportunities XI Ltd./GoldenTree Loan Opportunities XI, LLC placed $340 million of class A floating-rate notes at Libor plus 150 bps in the senior tranche.

GreensLedge Capital Markets LLC was the placement agent.

GoldenTree Asset Management will manage the CLO.

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