Barings BDC preps static CLO in pivot back to mid market

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By Alexander Saeedy
24 Apr 2019

Bank of America is marketing a static CLO for Barings Business Development Company, a subsidiary of the North Carolina-based asset manager, as the sponsor looks to move away from broadly syndicated loans back towards lending into the middle market.

In the $448m new issue CLO, only two debt tranches are being offered, a $297m triple-A tranche and a $51.5m double-A tranche. The remainder will be retained by the issuer.  

Official price guidance for the triple-A bonds has yet to be released, but market sources predict that the ...

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