Chicago, Feb. 7 – Bridgepoint Credit Management Ltd. sold €407.9 million in a collateralized loan obligation being by Bridgepoint CLO 3 DAC, according to multiple notices.
The notes will mature on Jan. 15, 2036.
The CLO consists of €248 million of class A senior secured floating-rate notes at Euribor plus 94 basis points, €42 million of class B senior secured floating-rate notes at Euribor plus 178 bps, €24 million of class C senior secured floating-rate notes at Euribor plus 240 bps, €28 million of class D senior secured deferrable floating-rate notes at Euribor plus 340 bps, €19.2 million of class E senior secured deferrable floating-rate notes at Euribor plus 624 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 909 bps and €34.7 million of subordinated notes.
Bridgepoint Credit Management Ltd. will manage the collateral through the end of the 4.5-year reinvestment period.
The notes are backed by senior secured obligations.
Jefferies International Ltd. was the placement agent.
Bridgepoint Credit Management is an asset management firm based in London.
| Issuer: | Bridgepoint CLO 3 DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €407.9 million
|
| Maturity: | Jan. 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies International Ltd.
|
| Manager: | Bridgepoint Credit Management Ltd.
|
| Settlement date: | Dec. 22
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 94 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €42 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 178 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €24 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 340 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €19.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 624 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 909 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €34.7 million
|
| Securities: | Subordinated notes
|
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|
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