BNP Paribas prices $567M reset of CIFC 2014-IV-R CLO

BNP Paribas on Dec. 21 priced a $566.81 million reset of the CIFC 2014-IV-R CLO, a deal previously refinanced by asset manager CIFC Asset Management LLC.

The reset includes a 21 basis point reduction in the primary triple-A coupon to L+117, according to market sources.

Details are as follows:

The deal includes Libor-benchmarked rates on all note tranches.

The non-call period was extended to Dec. 30, 2023, and the reinvestment period end date was moved to Jan. 17, 2027.

CIFC partially refinanced the transaction via Mizuho Securities USA in January 2017. The CLO was originally priced in August 2014 through Morgan Stanley, sized at $626.5 million.

The expected closing date is Dec. 30.