Macquarie AM closes debut US CLO at $409.2m
Macquarie Asset Management (AM) successfully closed its Market Street CLO, a new-issue US CLO, on 29 May at $409.2m (£303m).
It is marks Macquarie’s debut US CLO issuance. The portfolio will invest in a pool of US broadly syndicated loans.
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“We are pleased to issue our inaugural US CLO, with strong investor demand across the capital structure,” said Vivek Bommi, head of leveraged credit at Macquarie AM.
“This first transaction in the US CLO market is the start of our goal of providing strong returns for our clients.”
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Macquarie AM now manages over $10bn in leveraged credit assets across high yield, bank loans, and CLO debt clients across US wealth and institutional channels, and over $200bn across its credit platform.
Market Street CLO terms include a senior triple-A coupon of S+160 basis points. The two-year non-call period ends on 20 July 2027, and the five-year reinvestment period extends through 20 July 2030.
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The stated maturity is 20 July 2038, and the expected payment date is 20 October this year.
