CELF prices second new euro CLO; Blackstone/GSO refinances fifth vintage CLO year to date

By Cristal Cody

Tupelo, Miss., June 28 – The European CLO markets are seeing some deal action in June from new issuance and refinancings.

CELF Advisors LLP priced €462.6 million of notes in the CLO manager’s second new CLO of the year.

Blackstone/GSO Debt Funds Management Europe Ltd. refinanced €330.5 million of notes from a vintage 2015 CLO. Blackstone/GSO has refinanced five CLO transactions year to date.

More than €8 billion of new euro-denominated CLOs have priced so far in 2017, while more than €10 billion of vintage European CLOs have been refinanced year to date, according to market sources.

CELF Advisors priced €462.6 million of notes due Aug. 15, 2030 in a new euro-denominated CLO offering, according to market sources.

Carlyle Euro CLO 2017-2 DAC sold €266 million of class A-1 senior secured floating-rate notes at Euribor plus 83 basis points in the AAA-rated tranche.

Citigroup Global Markets Ltd. was the placement agent.

CELF Advisors has priced two new euro CLOs and refinanced two vintage CLOs year to date.

In 2016, CELF Advisors was in the primary market with two new CLOs and two refinanced CLOs.

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

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