By Cristal Cody
Tupelo, Miss., Dec. 9 – Fundacion Bancaria Caixa d’Estalvis i Pensions de Barcelona, formerly known as La Caixa, priced €1.83 billion of notes in the FonCaixa FTPyme 5 collateralized loan obligation transaction, according to a market source.
The CLO sold €1,555,500,000 of series A floating-rate notes at Euribor plus 126 basis points.
In the second tranche, the CLO priced €274.5 million of series B floating-rate notes at Euribor plus 391 bps.
CaixaBank was the placement agent.
La Caixa will manage the CLO, which is secured by small- and medium-sized enterprise loans in Spain.
The company operates as CaixaBank and is based in Barcelona.
| Issuer: | FonCaixa FTPyme 5
|
| Amount: | €1.83 billion
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | CaixaBank
|
| Manager: | Fundacion Bancaria Caixa d’Estalvis i Pensions de Barcelona
|
| Pricing date: | Nov. 24
|
|
|
| Series A notes
|
| Amount: | €1,555,500,000
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 126 bps
|
| Rating: | Moody’s: A3 expected
|
|
|
| Series B notes
|
| Amount: | €274.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 391 bps
|
| Rating: | Moody’s: B2 expected
|
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