Euro CLO supply eyed; Accunia prices €407.05 million; GSO/Blackstone plans refinancing

By Cristal Cody

Tupelo, Miss., Jan. 30 – The European CLO primary market remained active on Thursday with a deal from Accunia Fondsmaeglerselskab A/S.

Accunia Fondsmaeglerselskab priced €407.05 million of notes in the manager’s first new broadly syndicated CLO transaction since 2018.

New CLO issuance this week in the European primary market has included offerings from Partners Group (UK) Management Ltd. and Investor Credit Management EU Ltd.

Also, the dollar market has seen supply.

Brigade Capital Management, LLC priced $405.25 million of notes in its first broadly syndicated CLO deal of the year.

Meanwhile, the refinancing space is remaining active so far in 2020.

GSO/Blackstone Debt Funds Management LLC plans to price at least $451 million of notes in a refinancing a 2016 CLO.

Elsewhere, Antares Capital Advisers LLC closed Thursday on its previously reported $400.8 million Antares CLO 2019-2, Ltd./Antares CLO 2019-2, LLC middle-market CLO.

In its deal, Accunia Fondsmaeglerselskab priced €407.05 million of notes due 2033 in the offering, according to market sources.

Accunia European CLO IV DAC sold €248 million of the class A senior secured floating-rate notes at Euribor plus 98 basis points.

BNP Paribas, London Branch was the placement agent.

The CLO is backed primarily by broadly syndicated European senior secured loans and bonds.

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