Allianz, Tall Tree tap U.S. primary; Blackstone/GSO, La Caixa bring euro-denominated CLOs

By Cristal Cody

Tupelo, Miss., Dec. 9 – Allianz Global Investors U.S. LLC tapped the U.S. CLO primary market with a $413 million deal, according to a market source on Tuesday.

The CLO priced the AAA-rated slice at Libor plus 155 basis points.

Tall Tree Investment Management, LLC was in the U.S. primary market with a $404.8 million CLO transaction, a source said.

In the European CLO primary market, details emerged on Blackstone/GSO Debt Funds Management Europe Ltd.’s €415 million CLO deal. The CLO brought the AAA notes at Euribor plus 135 bps, according to a market source.

Spanish bank Fundacion Bancaria Caixa d’Estalvis i Pensions de Barcelona, formerly known as La Caixa, brought a €1.83 billion transaction in the Europe primary market, a source said.

Allianz Global Investors priced $413 million of notes due Jan. 16, 2027 in the CLO transaction, according to a market source.

West CLO 2014-2 Ltd./West CLO 2014-2 LLC sold $200 million of class A-1a floating-rate notes at Libor plus 155 bps.

At the bottom of the deal structure, the CLO priced $4.25 million of class E floating-rate notes at Libor plus 604 bps.

Nomura Securities International Inc. arranged the transaction.

The firm, part of Munich-based Allianz SE, brought one CLO transaction in 2013.

© 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.