CIFC’s debut euro CLO print keeps new manager premium small

By Owen Sanderson
02 Jul 2019

CIFC Asset Management’s debut European deal, which was priced on Monday through Deutsche Bank, shows the slim premium required for new issuers in the European market — despite increasing fears that the manager landscape is becoming crowded.

The €248m senior notes in the deal were priced at 114bp over three month Euribor — just 2bp wider than the senior tranche of regular issuer Partners Group’s Penta CLO 6, priced at the end of last week through BNP Paribas, or Permira’s Providus III, also priced ...

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