CLO Markets Daily - 30 August 2024
Category: CLO Markets
Regulatory notices
Palmer Square Euro CLO 2023-2: Rated Notes have been redeemed in part through refinancing. Link to notice here.
Jubilee CLO 2023-XXVII: Amendment deed.
Arbour CLO XIII: Post-closing fair value determination.
| Potential redemptions (EU CLOs) | Latest notice | Notice | Expected redemption date |
| ALME Loan Funding IV (redemption threshold amount) | 10-Jun | Link | 18-Jun |
| Arbour CLO V (optional redemption in whole or part through refi) | 16-Jul | Link | |
| Arbour CLO VI (optional redemption in whole or part through refi) | 17-Jul | Link | |
| Arbour CLO XIII (post-closing fair value determination) | 30-Aug | Link | |
| Arini European CLO 1 (entered into amendment deed) | 22-Aug | Link | |
| Aurium CLO X (optional redemption in whole or part) | 25-Jul | Link | |
| Avoca Static CLO I (optional redemption in whole or part through refi) | 09-Aug | Link | |
| Bain Capital Euro CLO 2022-1 (final redemption date) | 28-Aug | Link | 17-Sep |
| Bluemountain Fuji EUR CLO II (through liquidation) | 27-Mar | Link | 26-Apr |
| Bridgepoint CLO 1 (optional redemption in whole or part through refi) | 04-Jul | Link | |
| Blackrock European CLO I: (optional redemption through liquidation) | 09-Aug | Link | 10-Sep |
| Carlyle Euro CLO 2017-2 (optional redemption through liquidation) | 29-Aug | Link | 03-Oct |
| CVC Cordatus Loan Fund VI (potential redemption in part or whole) | 04-Jun | Link | |
| Dryden 51 Euro CLO 2017 (all rated notes) | 19-Mar | Link | no earlier than 15 April |
| Fidelity Grand Harbour CLO 2019-1 (optional redemption in whole) | 27-Aug | Link | |
| Flatiron CLO 17 (redemption date) | 30-Jul | Link | 07-Aug |
| Fernhill Park CLO DAC(post closing fair value determination) | 19-Jul | Link | |
| Hayfin Emerald CLO XI (redemption date) | 29-Jul | Link | 18-Sep |
| Harvest CLO XXII (modification of the WAL test definition) | 26-Jul | Link | |
| Invesco Euro CLO III (optional redemption in whole) | 26-Jul | Link | 22-Aug |
| Invesco Euro CLO IX( potential refi) | 29-Jul | Link | |
| Jubilee CLO 2023-XXVII (amendment deed) | 30-Aug | Link | |
| Man GLG Euro CLO II (threshold amount) | 16-Apr | Link | 19-Apr |
| North Westerly VIII 2024 ESG CLO (sale of the class F notes held by the issuer) | 08-Jul | Link | |
| OCP Euro CLO 2017-2 (optional redemption in whole or part through refi) | 27-Aug | Link | 12-Sep |
| Palmer Square Euro CLO 2023-1 (optional redemption in whole or part through refi) | 26-Jul | Link | |
| Penta CLO 3 (optional redemption in whole or in part) | 22-Aug | Link | |
| Penta CLO 14 (optional redemption in whole or in part) | 11-Jun | Link | |
| Providus CLO VII (optional redemption in whole or in part) | 25-Jul | Link | |
| Sculptor European CLO VII (optional redemption in whole or part) | 29-Aug | Link | |
| Texas Debt Capital Euro CLO 2024-1 (amendment effected) | 23-Aug | Link | |
| Tikehau CLO VII (optional redemption through refi in whole or part) | 21-Jun | Link | |
| Voya Euro CLO I (optional redemption in whole or part through refi) | 13-Aug | Link | |
| Voya Euro CLO VI (deed of amendment) | 26-Jun | Link |
US primary market
The refi of Capital CLO 1, a US BSL CLO managed by Franklin Advisers priced via Morgan Stanley.
Capital CLO 1
| Class | Size ($m) | Moody's | PAR SUB | WAL | CPN | DM |
| A-R-L | 62.00 | Aaa | 35.67% | 3.5yrs | 3mS + 128 | 128 |
| A-R-N | 194.00 | Aaa | 35.67% | 3.5yrs | 3mS + 128 | 128 |
| B-1-R | 37.25 | Aa2 | 23.61% | 5.2yrs | 3mS + 175 | 175 |
| C-R | 22.00 | A2 | 18.08% | 6.2yrs | 3mS + 205 | 205 |
| Total | 315.25 |
Key dates:
Reinvestment Period End: October 15, 2026
Non-Call End: October 15, 2025
The reset of Oaktree 2019-2 CLO a US BSL CLO managed by Oaktree Capital Management priced via Morgan Stanley.
Oaktree 2019-2
| Class | Size ($m) | S&P/Fitch | Par Sub (1) | % of Structure | DM | Coupon |
| A-1aRR | 274.00 | AAA / AAA | 39.00% | 6.5 | SOFR + 140 | 140 |
| A-1bRR | 31.50 | - / AAA | 32.00% | 8.3 | SOFR + 160 | 160 |
| A-2RR | 36.00 | AA / - | 24.00% | 8.9 | SOFR + 180 | 180 |
| B-RR | 27.00 | A / - | 18.00% | 9.5 | SOFR + 220 | 220 |
| C-1AR | 12.50 | BBB- / - | 13.00% | 9.9 | SOFR + 330 | 330 |
| C-1BR | 10.00 | BBB- / - | 13.00% | 9.9 | 6.71% | 330 |
| C-2R | 9.00 | BBB- / - | 11.00% | 10.2 | 7.66% | 425 |
| D-R | 13.50 | BB- / - | 8.00% | 10.4 | SOFR + 719 | 735 |
| Total | 413.50 |
Key dates:
Reinvestment Period End: October 15, 2026
Non-Call End: October 15, 2025
Jamestown XVIII, a US BSL CLO managed by Investcorp Credit Management has priced via JP Morgan. Link to story here.
The reset of Maranon 2021-3, a US middle market CLO managed by Maranon Management has priced via Wells Fargo Securities. Link to story here.
Three US deal priced yesterday afternoon New York time. Link to story here.
See SCI’s European and US CLO Deal Tracker for more.
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