CELF refinances 2015 euro CLO; Seix to price $460 million; Apollo plans refinancing

By Cristal Cody

Tupelo, Miss., Feb. 18 – CELF Advisors LLP priced €421.1 million of notes in a second refinancing of a vintage 2015 euro-denominated CLO offering in February.

In the dollar-denominated market, Seix Investment Advisors LLC plans to price $460 million of notes in a refinancing of a vintage 2016 CLO.

Also, Apollo Credit Management (CLO) LLC expects to return to the market to price a second refinancing of notes from a vintage 2016 CLO.

In its deal, CELF Advisors priced €421.1 million of notes in a second refinancing of the ALM XIX Ltd./ALM XIX LLC offering, according to a market source and a notice to noteholders.

Carlyle Global Market Strategies Euro CLO 2015-1 sold €279.1 million of class A-1-R senior secured floating-rate notes at par to yield Euribor plus 96 basis points at the top of the capital stack.

Natixis SA was the refinancing agent.

The maturity on the notes was extended to Jan. 16, 2033 from April 16, 2029.

In the original offering issued March 12, 2015, the CLO sold €273.5 million of class A-1A floating-rate notes at Euribor plus 125 bps.

The CLO was first refinanced on April 18, 2017 in a €400.6 million offering.

© 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.