By Cristal Cody
Tupelo, Miss., April 17 - Alcentra Ltd. brought €513.1 million of notes due July 15, 2027 in the Jubilee CLO 2014-XII BV collateralized loan obligation transaction, according to a market source on Thursday.
The CLO priced €302 million of class A floating-rate notes (//AAA) at Euribor plus 135 basis points.
The CLO also sold €51 million of class B-1 floating-rate notes (//AA+) at Euribor plus 192 bps; €5 million of 3.25% class B-2 fixed-rate notes (//AA+); €26.5 million of class C floating-rate notes (//A+) at Euribor plus 258 bps; €24.9 million of class D floating-rate notes (//BBB+) at Euribor plus 342 bps; €36.9 million of class E floating-rate notes (//BB+) at Euribor plus 490 bps and €19 million of class F floating-rate notes (//B-) at Euribor plus 570 bps.
The deal included €47.8 million of subordinated notes in the equity tranche.
J.P. Morgan Securities LLC was the placement agent.
Alcentra will manage the CLO, which is backed primarily by euro-denominated senior secured loans and senior secured bonds.
Proceeds from the deal will be used to purchase a €498.75 million portfolio of European leveraged loans and bonds.
The offering is Alcentra's second European CLO deal of the year. The global asset management firm brought the €413.5 million Jubilee CLO 2014-XI BV transaction on Jan. 24.
London-based Alcentra is an indirect subsidiary of BNY Alcentra Group Holding, Inc.
| Issuer: | Jubilee CLO 2014-XII BV
|
| Amount: | €513.1 million
|
| Maturity: | July 15, 2027
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Alcentra Ltd.
|
| Pricing date: | April 17
|
| Distribution: | Private placement
|
|
|
| Class A notes
|
| Amount: | €302 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 135 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €51 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 192 bps
|
| Rating: | Fitch: AA+
|
|
|
| Class B-2 notes
|
| Amount: | €5 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.25%
|
| Rating: | Fitch: AA+
|
|
|
| Class C notes
|
| Amount: | €26.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 258 bps
|
| Rating: | Fitch: A+
|
|
|
| Class D notes
|
| Amount: | €24.9 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 342 bps
|
| Rating: | Fitch: BBB+
|
|
|
| Class E notes
|
| Amount: | €36.9 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 490 bps
|
| Rating: | Fitch: BB+
|
|
|
| Class F notes
|
| Amount: | €19 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 570 bps
|
| Rating: | Fitch: B-
|
|
|
| Equity tranche
|
| Amount: | €47.8 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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