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Alcentra, Palmer Square sell euro CLOs; Sculptor refinances notes; Assurant reprices
By Cristal Cody
Tupelo, Miss., Dec. 3 New CLO deal volume includes a 303.1 million offering from Alcentra Ltd. in the managers first European broadly syndicated deal of the year.
Also, Palmer Square Europe Capital Management LLC issued 299.9 million of notes in its second static European CLO priced year to date.
In the refinancing space, two managers repriced notes from vintage CLOs.
Sculptor Loan Management LP refinanced $46.37 million of fixed-rate tranches from a 2012 CLO.
Assurant CLO Management LLC repriced $15 million of notes from a 2018 CLO.
Year to date, more than $31 billion of CLO notes have been refinanced, according to market sources.
New issue volume this year includes more than $70 billion of dollar-denominated broadly syndicated CLOs and over 20 billion of European volume.
In its deal, Alcentra priced 303.1 million of notes due Jan. 16, 2034 in the European CLO deal, according to market sources.
Jubilee CLO 2020-XXIV BV sold 181 million of the class A senior secured floating-rate notes at Euribor plus 107 basis points.
Separately, Palmer Square Europe Capital Management issued 299.9 million of notes due Feb. 15, 2030 in its static European CLO, according to market sources.
Palmer Square European Loan Funding CLO 2020-2 DAC sold 197.4 million of the class A floating-rate notes at Euribor plus 87 bps.
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