US pair to kick off European CLOs’ quest for €20bn year

By Tom Porter
29 Jan 2015

US based asset managers Pramerica and Carlyle are working on what may prove to be the first European CLO deals of the year. Investor demand lower down the capital structure remains a concern for the market but some players think relative value arguments could help solve that problem and help drive issuance towards €20bn in 2015.

Pramerica is working with Goldman Sachs on Dryden 36, a €417m nine tranche deal with the now typical non-call period of two years and reinvestment period of four years.

Carlyle is working with Barclays on Carlyle Global Market Strategies Euro CLO 2015-1, a €415m deal spread over seven ...

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