NoChu run ends as Spire prices Aurium V CLO

CLOs
By Owen Sanderson
11 Feb 2019

Spire Partners launched syndication on Aurium CLO V through Bank of America Merrill Lynch this week, the first euro CLO this year to be priced without an anchor from Norinchukin Bank. The senior notes were printed at 114bp, 6bp wider than the Japanese buyer’s recent commitments.

Norinchukin Bank, with more than $62bn equivalent of CLO investments, has anchored all of the European deals so far this year, including issues from Carlyle, GSO, and Credit Suisse Asset Management, which have all been printed with senior notes at a level of 108bp.

But NoChu will only ...

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