Two major names are close to raising debt for collateralized loan obligations. Bain Capital affiliate Sankaty Advisors is in the market via J.P. Morgan with the $500 million Avery Point CLO. Merrill Lynch, meanwhile, is said to be close to pricing the notes backing a CLO for Prudential Financial's leveraged bank loan group. The Prudential CLO is called Dryden 5 and is set to be approximately $350 million, according to a source. Ross Smead, portfolio manager for Prudential's leveraged bank loan division, declined to comment. Price talk on the triple-A notes is within the LIBOR plus 55 basis points level, said the source. This will be Prudential's second CLO this year, with UBS bringing the $349 million Dryden 4 to market in August. A Merrill spokesman also declined comment. Sankaty managing director Jonathan Lavine did not return calls.
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|4||Bank of America Merrill Lynch (BAML)||3,104||10||7.97|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Wells Fargo Securities||51,322.59||157||7.70%|
|4||Bank of America Merrill Lynch||50,413.91||166||7.56%|