Chicago, March 23 – Guggenheim Partners Europe Ltd. sold €409.1 million in a collateralized loan obligation being issued by Bilbao CLO IV DAC, according to a pre-sale report.
The notes will mature on April 15, 2036.
The CLO consists of €240 million of class A-1 floating-rate notes at Euribor plus 92 basis points, €40 million of class A-2A floating-rate notes at Euribor plus 175 bps, €10 million of class A-2B 2.2% fixed-rate notes, €25.4 million of class B floating-rate notes at Euribor plus 220 bps, €26.6 million of class C floating-rate notes at Euribor plus 325 bps, €20.2 million of class D floating-rate notes at Euribor plus 621 bps, €10.6 million of class E floating-rate notes at Euribor plus 883 bps and €36.3 million of subordinated notes.
Guggenheim Partners Europe Ltd. will manage the collateral through the end of the reinvestment period on March 29, 2027.
Collateral for the notes consists of speculative-grade senior secured term loans and bonds.
The notes can be called starting March 29, 2024.
Jefferies International Ltd. was the placement agent.
Guggenheim Partners Europe is a Dublin-based subsidiary of global asset manager Guggenheim Partners, LLC.
| Issuer: | Bilbao CLO IV DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €409.1 million
|
| Maturity: | April 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Jefferies International Ltd.
|
| Manager: | Guggenheim Partners Europe Ltd.
|
| Call feature: | March 29, 2024
|
| Settlement date: | March 29
|
|
|
| Class A-1 notes
|
| Amount: | €240 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 92 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2A notes
|
| Amount: | €40 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Rating: | S&P: AA
|
|
|
| Class A-2B notes
|
| Amount: | €10 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.2%
|
| Rating: | S&P: AA
|
|
|
| Class B notes
|
| Amount: | €25.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Rating: | S&P: A
|
|
|
| Class C notes
|
| Amount: | €26.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 325 bps
|
| Rating: | S&P: BBB
|
|
|
| Class D notes
|
| Amount: | €20.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 621 bps
|
| Rating: | S&P: BB-
|
|
|
| Class E notes
|
| Amount: | €10.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 883 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €36.3 million
|
| Securities: | Subordinated notes
|
|
|
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