Redding Ridge, Partners Group price new deals; CSAM, Apollo refinance vintage 2016 CLOs

By Cristal Cody

Tupelo, Miss., March 11 – Redding Ridge Asset Management, LLC priced $501.5 million of notes in the manager’s second broadly syndicated CLO transaction of 2020.

In other new CLO issuance, Partners Group US Management CLO LLC priced a $409.5 million broadly syndicated CLO.

Meanwhile, Credit Suisse Asset Management, LLC refinanced notes a third time from a 2016 broadly syndicated CLO. The manager priced $450 million of notes in the deal that closed on Tuesday.

Apollo Credit Management (CLO) LLC also priced a $438 million second refinancing of notes from a vintage 2016 CLO.

Refinancing volume totals about $25 billion year to date with a handful of deals expected to print in March, according to market sources.

In other activity, the Loan Syndications & Trading Association announced on Wednesday that it is postponing its 2020 operations conference that was scheduled for April 21 in response to member concerns.

On Wednesday, the World Health Organization classified the coronavirus as a pandemic.

In its deal, Redding Ridge Asset Management priced $501.5 million of notes due April 15, 2033 in the new CLO transaction, according to a market source.

RR 8 Ltd./RR 8 LLC sold $300 million of class A-1a senior secured floating-rate notes (Aaa/AAA) at Libor plus 123 basis points at the top of the capital stack.

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