By Cristal Cody
Tupelo, Miss., Dec. 23 – Capital Four CLO Management K/S priced €356.2 million of notes due in January 2034 in the Capital Four CLO II DAC transaction, according to market sources.
The CLO sold €217 million of class A senior secured floating-rate notes at Euribor plus 105 basis points, €22.3 million of class B-1 senior secured floating-rate notes at Euribor plus 170 bps and €7.5 million of 2% class B-2 senior secured fixed-rate notes.
Capital Four CLO II also priced €23.6 million of class C senior secured deferrable floating-rate notes at Euribor plus 270 bps; €24.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 380 bps; €20.1 million of class E senior secured deferrable floating-rate notes at Euribor plus 591 bps; $8.8 million of class F senior secured deferrable floating-rate notes at Euribor plus 780 bps and €32.4 million of subordinated notes.
Barclays was the placement agent.
The CLO is collateralized primarily by broadly syndicated senior secured loans and bonds.
Capital Four CLO Management priced its debut European CLO in 2019.
The CLO manager is part of Copenhagen-based credit asset management firm Capital Four Management Fondsmaeglerselskab A/S.
| Issuer: | Capital Four CLO II DAC
|
| Amount: | €356.2 million
|
| Maturity: | January 2034
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Capital Four CLO Management K/S
|
| Pricing date: | Dec. 11
|
| Settlement date: | Jan. 27
|
|
|
| Class A notes
|
| Amount: | €217 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 105 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €22.3 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €7.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €23.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 270 bps
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €24.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 380 bps
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | €20.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 591 bps
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €8.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 780 bps
|
| Ratings: | Moody’s: B3
|
| S&P: B-
|
|
|
| Equity
|
| Amount: | €32.4 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
