Standard Chartered prices; Guggenheim CLO invests in syndicated loans and middle-market debt

By Cristal Cody

Tupelo, Miss., Sept. 25 – Standard Chartered Bank and Guggenheim Partners Investment Management LLC tapped the CLO primary markets, according to details on Friday.

Standard Chartered priced a five-year credit-linked floating-rate note deal.

Guggenheim Partners Investment Management sold $500 million of notes in a CLO vehicle that will invest the proceeds in broadly syndicated loans and middle-market private debt investments.

Start X CLO Ltd. priced $236.25 million of five-year credit-linked floating-rate notes at par in a Regulation S offering, according to a prospectus.

The notes priced at Libor plus 1,100 basis points to the designated maturity.

The notes have a scheduled maturity of March 23, 2019. The notes will be redeemed in full on the final maturity of March 23, 2020.

Standard Chartered Bank is the deal arranger and lead manager.

The notes will not be rated.

The deal is linked via a credit-default swap to a portfolio of reference obligations.

Guggenheim Partners Investment Management sold $500 million of notes due 2026 in a CLO transaction, according to a market source on Friday.

Guggenheim Private Debt Fund Note Issuer 2.0, LLC priced $90 million of non-rated series 1 leverage notes at Libor plus 250 bps and $149 million of class A floating-rate notes at Libor plus 275 bps at the top of the capital structure.

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