Issuers had engaged Standard & Poor’s to rate 32 collateralized loan obligations (CLOs) totaling $14.8 billion as of Nov. 29, the rating agency stated in a weekly research update. That’s little changed from the previous week, when it was engaged to rate 31 deals totaling $14.5 billion.
Issuance of S&P-rated deals for the year to date totals $76 billion, up from $50 billion in the year-ago period.
Among recent CLO presale reports published by S&P is 3i Debt Management’s $515 million Jamestown CLO III, underwritten by JP Morgan Chase. The senior, AAA-rated floating-rate tranche was offered at three-month Libor plus 145 basis points; there is also a senior fixed-rate tranche that pays 3.378%. 3i manages seven other S&P-rated CLOs.
American Money Management alsohas a$411.4 million deal, AAMC CLO XIII via RBS Securities. The senior tranche was also marketed at Libor plus 145 basis points. American Money Management runs a total of nine S&P-rated CLOs.
And Tannenbaum Capital Partners is in the market with its first CLO; the $153 million Tannenbaum Senior Loan SPV is backed by loans to middle market companies. Natixis is the arranger.