ArrowMark Colorado prices $315.4 million notes in new static CLO; secondary active

By Cristal Cody

Tupelo, Miss., May 12 – ArrowMark Colorado Holdings LLC sold $315.4 million of notes in a new broadly syndicated CLO deal.

The static CLO has a short one-year non-call period and does not have a reinvestment period.

Primary action remains thin in the broadly syndicated and middle-market spaces, sources note.

In the secondary market, the week started with $469.34 million of investment-grade CBO/CDO/CLO issues and $227.45 million of lower-rated paper traded on Monday, according to Trace data.

The average price for high-grade paper was 91.20 on Monday, while non-high-grade tranches traded at an average 63.30 in the prior session.

ArrowMark Colorado Holdings sold $315.4 million of notes due April 15, 2028 in a static broadly syndicated CLO offering, according to market sources.

Apres Static CLO 2, Ltd./Apres Static CLO 2 LLC priced $184.8 million of class A floating-rate notes at Libor plus 250 basis points in the AAA-rated tranche.

Goldman Sachs & Co. LLC was the placement agent.

The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.

The investment management firm is based in Denver.

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