Pair of CLOs bring senior spreads to tightest level since November
Managers priced two CLOs on Thursday, selling the senior bonds at the tightest spread seen since November as 2020 kicks off with a rally in triple-A paper.
TICP, the credit arm of the Texas-based TPG Capital, on Thursday priced a $432.9m deal arranged by JP Morgan, selling the senior notes at 128bp over three month Libor. Symphony Asset Management, meanwhile, sold a $407.4m deals via Natixis, with the $228m triple-A senior notes priced at 129bp ...
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