Carlyle Snaps Up Cheap Loans to Create Rare "Print and Sprint" CLO
- European leveraged loan prices have tumbled in recent weeks
- CLO managers are crafting quick deals via the secondary market
This article is for subscribers only.
Carlyle Group Inc. has successfully priced an unusual type of collateralized loan obligation in Europe.
The 337.7 million euro ($360.7 million) deal is crafted as a so-called “print and sprint,” according to people familiar with the matter, who aren’t authorized to speak publicly. It’s a kind of transaction that involves CLO managers purchasing leveraged loans in the secondary market, rather than taking the normal route of opening a credit facility and slowly building up a portfolio.