AGL, Ballyrock price; GC sells $677.53 million middle-market CLO; 325 Fillmore refinances

By Cristal Cody

Tupelo, Miss., Oct. 20 – AGL Credit Management LP tapped the CLO primary market with $550 million of notes in the manager’s sixth broadly syndicated CLO deal issued this year.

Meanwhile, Ballyrock Investment Advisors LLC sold $397.3 million of notes in the manager’s second CLO offering of the year.

In the middle-market space, GC Investment Management LLC priced $677.53 million of notes in a new middle-market CLO.

The refinancing space also remains active with reprints of fixed-rate tranches in October.

325 Fillmore LLC refinanced the fixed-rate tranche in a partial refinancing of a 2018 broadly syndicated CLO.

More than $60 billion of new broadly syndicated CLOs have priced this year, while middle-market volume totals over $6 billion year to date.

About $30 billion of CLO notes have been refinanced so far this year, according to market sources.

In its deal, AGL Credit Management priced $550 million of notes due Oct. 20, 2031 in the new broadly syndicated CLO, according to market sources.

AGL CLO 8 Ltd./AGL CLO 8 LLC sold $316 million of class A-1 senior secured floating-rate notes at Libor plus 150 basis points at the top of the capital stack.

Mizuho Securities USA LLC was the placement agent.

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