Ares resets and increases its $1.19bn CLO

By Paola Aurisicchio
01 Apr 2021

Ares Management has increased the size of one of its largest CLOs still further, resetting a $1.1bn transaction originally priced in 2017 and taking the opportunity to crank the deal up to a par value of $1.9bn.

The deal, arranged by Goldman Sachs, sold senior notes rated triple-A by Moody's and S&P at 108bp over three month Libor. The reset of the CLO extended its reinvestment period for other five years.

Benefit Street Partners has also joined managers who are going big. The manager ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial