Palmer Square Prices Over $1.8B In Collateralized Loan Obligations Within The Past Week
- Notable issuances include debut CLO from Palmer Square's publicly traded BDC and a benchmark setting US Static and European CLO issuance
- Palmer Square has issued 7 CLOs in 2024 and the largest BSL CLO deal of the year
Palmer Square Capital Management ("Palmer Square"), a credit-focused asset management firm with over $30.0 billion in assets, is pleased to announce over $1.8 billion of CLO issuances across three benchmark transactions within the past week.
Palmer Square priced Palmer Square Loan Funding 2024-3, a $1.0 billion static collateralized loan obligation ("CLO") primarily composed of broadly syndicated first lien senior secured loans. Palmer Square significantly upsized this transaction to accommodate investor demand. The AAA tranche priced at 108 basis points— the lowest coupon static CLO AAA pricing of the year. The deal was arranged by Citibank and has a 1-year non-call period.