CELF, Intermediate Capital price euro CLOs; Investcorp sells CLO; refinancings active

By Cristal Cody

Tupelo, Miss., Feb. 20 – CELF Advisors LLP sold €409.8 million of notes in the manager’s first new euro-denominated CLO offering of the year.

Also in the European primary market, Intermediate Capital Managers Ltd. priced a €410.65 million new broadly syndicated CLO.

In the dollar-denominated primary market, details emerged on Investcorp Credit Management US LLC’s $408.05 million new CLO transaction.

Meanwhile, the refinancing space remains active.

Rockford Tower Capital Management, LLC priced $459.8 million of notes in a refinancing of a vintage 2017 CLO.

Coming up, Octagon Credit Investors, LLC plans to price a second refinancing of a 2013 CLO.

In addition, Neuberger Berman Investment Advisers LLC expects to price $437.75 million of notes in a refinancing of a 2017 CLO.

In its deal, CELF Advisors sold €409.8 million of notes due in 2033 in the CLO offering, according to market sources.

Carlyle Global Market Strategies Euro CLO 2020-1 DAC priced €248 million of class A-1 floating-rate notes at Euribor plus 95 basis points at the top of the capital structure.

BNP Paribas Securities Corp. was the placement agent.

The CLO is collateralized primarily by senior secured loans and senior secured bonds.

The London-based manager is part of the Washington, D.C.-based Carlyle Group LP.

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