Napier Park, Blackstone/GSO price CLOs; leveraged loans post inflows; secondary active

By Cristal Cody

Tupelo, Miss., May 29 – Two CLO managers tapped the European primary market with new deals.

Napier Park Global Capital Ltd. priced €201.75 million of notes in the manager’s first European CLO offering of the year.

Blackstone/GSO Debt Funds Management Europe Ltd. priced a €282.5 million CLO in its third euro-denominated deal brought to the market year to date.

More than €7 billion of euro-denominated CLOs have priced so far this year, market sources report.

New issue and refinancing broadly syndicated CLO volume year to date totals $55.24 billion, which includes $46.96 billion of dollar-denominated CLO notes, according to Prospect News data.

Meanwhile, leveraged loans “got the first weekly inflow since the beginning of January” for the past week ended Wednesday, BofA Securities, Inc. credit strategist Yunyi Zhang said in a note released Friday.

Inflows totaled $10 million versus a $490 million outflow in the prior week.

Looking at the securitized secondary market, trading volume climbed to $793.05 million in high-grade CBO/CDO/CLO paper on Thursday from $679.77 million of supply on Wednesday and $318.28 million on Tuesday, Trace data shows.

Secondary trading volume in lower-rated securities totaled $136.49 million on Thursday.

© 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.