Morgan Stanley prices $440.5M partial refi of Newark BSL CLO 2 for PGIM

Morgan Stanley on Feb. 4 priced the $440.5 million partial refinancing of the Newark BSL CLO 2 for PGIM.

Details are as follows:

The refinancing is expected to close on March 3, 2021, while the non-call period will run until Sept. 3, 2021. The reinvestment period for the CLO ends on July 25, 2022.

The $512 million vehicle — previously known as TCI-Cent 2017-1 — was originally priced in June 2017, with TCI Capital Management as the collateral manager.

In August 2018, PGIM was selected as the replacement manager and in April 2019 the name of the vehicle was changed to Newark BSL CLO 2.