American Capital, PineBridge price CLOs; pipeline strong with $13 billion of deals on tap

By Cristal Cody

Tupelo, Miss., June 16 – American Capital CLO Management, LLC and PineBridge Investments LLC priced new collateralized loan obligation deals, according to market sources.

American Capital sold $618.75 million of notes and brought the AAA-rated tranche at Libor plus 151 basis points, according to a market source.

PineBridge Investments raised $465.35 million in the firm’s first CLO deal in 2014, according to a market source.

PineBridge brought two U.S. CLO deals in 2013.

In the new offering, PineBridge placed the AAA notes at Libor plus 148 bps, a source said.

The deal pipeline remains strong with about $13 billion of CLO transactions in marketing, according to a source.

American Capital CLO Management sold $618.75 million of notes due July 18, 2026 in the ACAS CLO 2014-1, Ltd./ACAS CLO 2014-1 LLC transaction, according to a market source.

Deutsche Bank Securities Inc. arranged the transaction.

American Capital CLO Management will manage the CLO, which is backed primarily by broadly syndicated senior secured loans.

PineBridge Investments priced $465.35 million of notes due July 15, 2026 in the Galaxy XVII CLO Ltd./Galaxy XVII CLO LLC transaction, according to a market source on Monday.

Goldman Sachs & Co. arranged the transaction.

PineBridge Investments will manage the CLO.

The offering is collateralized by a revolving pool of broadly syndicated senior secured loans.

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