ArrowMark prices $409.9 million CLO; Investcorp Credit prints €410.4 million notes

By Cristal Cody

Tupelo, Miss., Nov. 28 – Two CLO managers closed Wednesday on deals priced in the U.S. and European primary markets.

ArrowMark Colorado Holdings LLC sold $409.9 million of notes in its second new dollar-denominated transaction of the year.

Investcorp Credit Management EU Ltd. priced a €410.4 million CLO deal in its second euro-denominated offering year to date.

More than $100 billion of dollar-denominated CLOs and more than €24 billion of euro-denominated CLOs have priced in 2018, according to market sources.

In its deal, ArrowMark Colorado Holdings sold $409.9 million of notes due Oct. 20, 2031 in the CLO offering that closed on Wednesday, according to a market source.

Elevation CLO 2018-10, Ltd./Elevation CLO 2018-10 LLC priced $256 million of class A senior secured floating-rate notes at Libor plus 127 basis points in the senior tranche.

MUFG was the placement agent.

Meanwhile, Investcorp Credit Management EU priced €410.4 million of notes due Oct. 20, 2031 in its deal that settled on Wednesday, according to a market source.

Harvest CLO XX DAC priced the €246 million of class A senior secured floating-rate notes at Euribor plus 96 bps.

J.P. Morgan Securities plc was the placement agent.

The deal is backed primarily by a portfolio of senior secured loans and senior secured bonds.

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