CLO Coverage
Eagle Point to Sell Five CLO Majority Equity Positions Tomorrow
Tue 04/16/2024 18:54 PM
Reporting: Hugh Minch
A b-wic list with five CLO majority equity stakes is scheduled for 10am tomorrow, April 17, according to Solve data. Sources say that Eagle Point Credit is the account selling the positions, which are worth a combined $157.9 million.
The list features $20.5 million equity in BlueMountain CLO XXII, $28 million equity in BlueMountain CLO 2018-3, $47.2 million equity in Blackstone Credit’s Buttermilk Park CLO, $32.9 million in Carlyle US CLO 2017-5, and $29.3 million in Carlyle CLO 2018-4. All of the positions account for over 50% of the equity in their respective CLOs.
Each of the CLOs share a similar profile, pricing between December 2017 and November 2018 and have exited their reinvestment periods in the last 18 months. BlueMountain CLO XXII and Carlyle CLO 2017-5 exited reinvestment in January 2023, followed by BlueMountain CLO 2018-3 in July last year and Buttermilk Park CLO in September. Carlyle 2018-4 left reinvestment on Jan. 20 of this year.
A spokesperson at Eagle Point declined to comment.
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