Antares prices $1 billion middle-market CLO; Triumph closes second deal of year

By Cristal Cody

Tupelo, Miss., Nov. 21 – Antares Capital Advisers LLC priced $1 billion of notes in the CLO manager’s third middle-market CLO deal of the year.

CLO middle-market action has picked up in the past few weeks with several issuers bringing deals to the primary market.

More than $13 billion of middle-market CLOs have priced year to date, according to market sources.

In the broadly syndicated CLO market, Triumph Capital Management, LLC closed Monday on a new $611.5 million CLO offering.

More than $100 billion of broadly syndicated CLOs have priced this year, according to market sources.

In its deal, Antares Capital Advisers priced $1,007,600,000 of notes due Jan. 15, 2031 in the Antares CLO 2018-3, Ltd./Antares CLO 2018-3, LLC middle-market CLO transaction, an informed source said.

The CLO sold $575 million of class A-1 floating-rate notes at Libor plus 145 basis points at the top of the capital stack.

Citigroup Global Markets Inc. was the placement agent.

Separately, Triumph Capital Management priced $611.5 million of notes due Jan. 20, 2032 in the new broadly syndicated CLO offering, according to a market source.

Trinitas CLO IX Ltd./Trinitas CLO IX LLC sold $384 million of class A floating-rate notes at Libor plus 130 bps in the senior tranche.

Goldman Sachs & Co. LLC was the placement agent.

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