First Eagle prices CLO with pre-Covid reinvestment period

By Paola Aurisicchio
16 Sep 2020

First Eagle Alternative Credit priced the first CLO with a five year reinvestment period since the pandemic, breaking a streak of managers opting for deals with reinvestment windows of one to three years.

First Eagle Alternative Credit, formed when First Eagle Investment Management acquired THL Credit Advisors in February, broke the months long streak of shorter duration deals with a $270m CLO that includes $244m of senior notes, rated triple-A by Kroll Bond Rating Agency and Moody’s. The bonds were sold ...

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