U.S., Europe CLO deal action to pick up; Regatta VI, BlueMountain CLO deals in pipeline

By Cristal Cody

Eureka Springs, Ark., April 7 – Primary action in the U.S. and European CLO markets is expected to pick up after a quiet first week of April, according to market sources.

Regatta Loan Management LLC is in the pipeline with a $411 million U.S. and European risk retention-compliant CLO deal.

BlueMountain Capital Management LLC is marketing a $398.95 million transaction.

The U.S. market has seen $8.26 billion in 21 deals year to date, while European volume year to date totals €2.64 billion from seven CLO transactions, according to Prospect News data.

Several managers are expected to price new European CLOs when market conditions improve, a source said.

Euro-denominated CLO AAA notes have priced on average in the Euribor plus 150 basis points to 155 bps range over the first quarter, flat to 5 bps wider from the fourth quarter, according to Wells Fargo Securities LLC.

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