Celf Advisors sells €410 million CLO; Europe deal volume rises to about €3 billion to date

By Cristal Cody

Eureka Springs, Ark., April 8 – Celf Advisors LLP tapped the European CLO market with a €410 million deal on Friday.

The firm priced the AAA-rated notes at Euribor plus 150 basis points, in line with other CLO AAA notes priced this year in the Euribor plus 150 bps to 155 bps range.

Euro-denominated CLO volume totals about €3 billion from eight deals year to date, according to Prospect News data.

Market analysts forecast €10 billion to €15 billion of euro-denominated CLO issuance for the year.

Volume totaled €29.35 billion from 44 CLO deals in 2015, according to data.

Celf brings Carlyle Euro CLO

Celf Advisors sold €410 million of notes due May 10, 2029 in the CLO offering, according to a market source.

Carlyle Global Market Strategies Euro CLO 2016-1 Designated Activity Co. priced €246 million of class A-1 senior secured floating-rate notes at Euribor plus 150 bps and €43 million of class A-2 senior secured floating-rate notes at Euribor plus 225 bps in the senior tranches.

Citigroup Global Markets Inc. arranged the offering.

The transaction is backed primarily by senior secured loans and senior secured bonds.

Proceeds from the offering will be used to purchase a portfolio of mostly European leveraged loans and bonds.

London-based CELF is part of the Washington, D.C.-based Carlyle Group LP.

© 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.