CVC prices €413.6 million CLO; Bain brings euro CLO; MacKay, Invesco close deals

By Cristal Cody

Tupelo, Miss., Nov. 6 – The European CLO primary market continues to see steady supply in November.

CVC Credit Partners Group Ltd. priced €413.6 million of notes in a new European broadly syndicated CLO on Tuesday.

Bain Capital Credit, Ltd. priced the €405 million Bain Capital Euro CLO 2019-1 DAC transaction this week also. Final pricing details were not immediately available.

In other European market action on Wednesday, MacKay Shields EUR Investment Management Ltd. closed on its new €358.8 million MacKay Shields Euro CLO-1 DAC deal that priced in September.

In the dollar-denominated market, Invesco RR Fund LP closed Tuesday on a new $600.2 million broadly syndicated CLO offering. The Bardot CLO Ltd. included $372 million of the class A-1 senior secured floating-rate notes at Libor plus 134 bps.

Also on Wednesday, Fort Washington Investment Advisors, Inc. closed on its $556.17 million debut broadly syndicated Fort Washington CLO 2019-1 Ltd. transaction that priced in October.

In its deal, CVC Credit Partners Group priced €413.6 million of notes due June 17, 2032 in the CVC Cordatus Loan Fund XVI DAC offering, according to market sources.

The CLO sold €219 million of class A-1 floating-rate notes at Euribor plus 90 bps at the top of the capital stack.

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