Macquarie Asset Administration (AM) efficiently closed its Market Avenue CLO, a new-issue US CLO, on 29 Could at $409.2m (£303m).
It’s marks Macquarie’s debut US CLO issuance. The portfolio will put money into a pool of US broadly syndicated loans.
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“We’re happy to problem our inaugural US CLO, with robust investor demand throughout the capital construction,” mentioned Vivek Bommi, head of leveraged credit score at Macquarie AM.
“This primary transaction within the US CLO market is the beginning of our aim of offering robust returns for our purchasers.”
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Macquarie AM now manages over $10bn in leveraged credit score belongings throughout excessive yield, financial institution loans, and CLO debt purchasers throughout US wealth and institutional channels, and over $200bn throughout its credit score platform.
Market Avenue CLO phrases embrace a senior triple-A coupon of S+160 foundation factors. The 2-year non-call interval ends on 20 July 2027, and the five-year reinvestment interval extends by 20 July 2030.
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The said maturity is 20 July 2038, and the anticipated fee date is 20 October this 12 months.
