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GoldenTree, Permira Debt Managers issue European CLOs; euro deal volume outpaces 2017
By Cristal Cody
Tupelo, Miss., Dec. 20 Details emerged on two new euro-denominated CLO deals that closed on Thursday.
GoldenTree Asset Management LP priced 404.87 million of notes in its second European CLO transaction this year.
Permira Debt Managers Group Holdings Ltd. sold 361.3 million of notes in its deal, also the managers second euro-denominated offering of 2018.
About 26 billion of new issue euro-denominated CLOs have priced in 2018, up from 19 billion in 2017, according to a J.P. Morgan Securities, LLC note.
In its deal, GoldenTree Asset Management priced 404.87 million of notes due Jan. 20, 2032 in the GoldenTree Loan Management EUR CLO 2 DAC offering, according to market sources.
GoldenTree Loan Management EUR CLO 2 sold 240 million of class A senior secured floating-rate notes at Euribor plus 96 basis points in the senior slice.
Morgan Stanley & Co. International plc was the placement agent.
Meanwhile, Permira Debt Managers Group Holdings sold 361.3 million of notes due July 15, 2031 in its transaction, according to market sources.
Providus CLO II DAC priced 217 million of class A senior secured floating-rate notes at Euribor plus 101 bps at the top of the capital stack.
Morgan Stanley arranged the offering.
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