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GoldenTree Asset Management prices euro CLO; Funding Circle closes £243.54 million deal
By Cristal Cody
Tupelo, Miss., July 17 – The global CLO market continues to be active with two new euro- and British sterling-denominated deals.
GoldenTree Asset Management LP priced €402.06 million of notes in the manager’s first euro CLO offering priced this year.
Meanwhile, Funding Circle Ltd. closed Wednesday on a £243.54 million offering of notes in the manager’s second sterling-denominated securitization transaction this year.
In other action, Five Arrows Managers North America LLC refinanced $275.5 million of notes from a vintage 2016 broadly syndicated CLO.
In other activity on Wednesday, CIFC Asset Management LLC closed on its previously reported $510.6 million CIFC Funding 2019-IV, Ltd. broadly syndicated CLO offering that priced in June.
In its deal, GoldenTree Asset Management priced €402.06 million of notes due Jan. 20, 2032 in the new CLO transaction, according to a market source.
GoldenTree Loan Management EUR CLO 3 DAC sold €248 million of the class A senior secured floating-rate notes at Euribor plus 112 basis points.
Barclays was the placement agent.
Meanwhile, Funding Circle closed Wednesday on £243,539,000 of notes due March 2028 in the Small Business Origination Loan Trust 2019-2 DAC transaction, according to a market source.
The offering included £150,773,000 of class A floating-rate asset-backed notes (Aa3/AA).
Deutsche Bank AG, London Branch was the placement agent.
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