Chicago, Oct. 14 – CELF Advisors LLP refinanced and extended for €423.85 million the collateralized loan obligation issued by Carlyle Euro CLO 2017-1 DAC, according to a pre-sale report.
The notes will mature on July 15, 2034.
The CLO now consists of €2.5 million of class X senior secured floating-rate notes at Euribor plus 45 basis points, €243 million of class A-1-R senior secured floating-rate notes at Euribor plus 93 bps, €30 million of class A-2A-R senior secured floating-rate notes at Euribor plus 170 bps, €13 million of class A-2B-R 2% senior secured fixed-rate notes, €25 million of class B-R senior secured deferrable floating-rate notes at Euribor plus 225 bps, €27 million of class C-R senior secured deferrable floating-rate notes at Euribor plus 345 bps, €21 million of class D-R senior secured deferrable floating-rate notes at Euribor plus 647 bps, €13 million of class E-R senior secured deferrable floating-rate notes at Euribor plus 889 bps and €49.35 million of subordinated notes.
Originally, the CLO sold €230 million of class A-1 senior secured floating-rate notes at Euribor plus 86 bps; €62 million of class A-2 senior secured floating-rate notes at Euribor plus 150 bps; €26 million of class B senior secured deferrable floating-rate notes at Euribor plus 215 bps; €19 million of class C senior secured deferrable floating-rate notes at Euribor plus 330 bps; €21 million of class D senior secured deferrable floating-rate notes at Euribor plus 500 bps; €12 million of class E senior secured deferrable floating-rate notes at Euribor plus 650 bps and €43.5 million of subordinated notes.
CELF Advisors LLP will manage the collateral through the end of the reinvestment period on Jan. 15, 2026.
The notes can be called starting Jan. 15, 2023.
BofA Securities was the placement agent.
The London-based CLO manager is part of Washington, D.C.-based Carlyle Group LP.
| Issuer: | Carlyle Euro CLO 2017-1 DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €423.85 million
|
| Maturity: | July 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities
|
| Manager: | CELF Advisors LLP
|
| Call feature: | Jan. 15, 2023
|
| Settlement date: | July 1
|
|
|
| Class X notes
|
| Amount: | €2.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 45 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A-1-R notes
|
| Amount: | €243 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 93 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A-2A-R notes
|
| Amount: | €30 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class A-2B-R notes
|
| Amount: | €13 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Price: | Par
|
| Rating: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class B-R notes
|
| Amount: | €25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 225 bps
|
| Price: | Par
|
| Rating: | Moody’s: A2
|
| S&P: A
|
|
|
| Class C-R notes
|
| Amount: | €27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 345 bps
|
| Price: | Par
|
| Rating: | Moody’s: Baa3
|
| S&P: BBB
|
|
|
| Class D-R notes
|
| Amount: | €21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 647 bps
|
| Price: | 98
|
| Rating: | Moody’s: Ba3
|
| S&P: BB-
|
|
|
| Class E-R notes
|
| Amount: | €13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 889 bps
|
| Price: | 96
|
| Rating: | Moody’s: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €49.35 million
|
| Securities: | Subordinated notes
|
|
|
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