PGIM prices $506.35 million CLO; Credit Suisse Asset wraps $816.7 million deal

By Cristal Cody

Tupelo, Miss., Dec. 12 – Details emerged on two new dollar-denominated CLO transactions priced in the broadly syndicated primary market.

PGIM, Inc. sold $506.5 million of notes on Friday in the firm’s sixth dollar-denominated CLO offering priced in 2018.

Meanwhile, Credit Suisse Asset Management, LLC closed Wednesday on an $816.7 million CLO transaction. CSAM has priced five new issue CLOs this year.

More than $110 billion of new issue CLOs have priced year to date, according to market sources.

In its deal, PGIM priced $506.5 million of notes due Jan. 16, 2032 in the CLO offering on Friday, according to a market source.

Dryden 70 CLO, Ltd./Dryden 70 CLO, LLC sold $297 million of class A-1 floating-rate notes at Libor plus 117 basis points at the top of the capital stack.

Barclays was the placement agent.

Meanwhile, Credit Suisse Asset Management sold $816.7 million of notes due Jan. 23, 2031 in the Madison Park Funding XXXI Ltd./Madison Park Funding XXXI LLC transaction, according to a market source.

The CLO priced the $456 million tranche of class A-1 floating-rate notes at Libor plus 116 bps.

BofA Merrill Lynch was the placement agent.

The notes are collateralized primarily by broadly syndicated senior secured loans.

© 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.