CSAM prices CLO with second lowest cost of debt following a refi

By Hugh Minch

The manager has completed its 19th CLO transaction of the year

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TAGS: Refinancing Primary market Pricing MUFG CSAM North America CLO

View details on CLO-i: Atrium xii

Comment by: Sayed Kadiri. Posted 11 months ago [2017-11-14 16:56:36]

Thanks to the reader below for sharing an excellent bit of relative value analysis.

Comment by: Anonymous. Posted 11 months ago [2017-11-11 04:57:16]

Benefit Street Partners CLO VII has less debt than Atrium XII as a percentage of the collateral par amount. Using the same debt attachment point (8%) Atrium XII has 1.19% cost of debt, even though it has a 0.5yr longer reinvestment period.