By Cristal Cody
Tupelo, Miss., March 4 – Spire Partners, LLP sold €308.77 million of notes due April 26, 2029 in a euro-denominated collateralized loan obligation deal, according to a market source.
Aurium CLO I Ltd. priced €179.5 million of class A senior secured floating-rate notes at Euribor plus 130 basis points; €33.5 million of class B senior secured floating-rate notes at Euribor plus 215 bps; €18 million of class C senior secured deferrable floating-rate notes at Euribor plus 300 bps; €15.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 365 bps; €21 million of class E senior secured deferrable floating-rate notes at Euribor plus 540 bps; $10.75 million of class F senior secured deferrable floating-rate notes at Euribor plus 665 bps and €30.52 million of subordinated notes.
Deutsche Bank AG, London Branch arranged the offering.
Spire Partners will manage the CLO.
The transaction is backed primarily by euro-denominated broadly syndicated speculative-grade senior secured loans.
Spire Partners is a London-based management firm that focuses on European non-investment grade credit.
| Issuer: | Aurium CLO I Ltd.
|
| Amount: | €308.77 million
|
| Maturity: | April 26, 2029
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG, London Branch
|
| Manager: | Spire Partners, LLP
|
| Pricing date: | March 3
|
| Settlement date: | March 30
|
|
|
| Class A notes
|
| Amount: | €179.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 130 bps
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
|
|
| Class B notes
|
| Amount: | €33.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Ratings: | Moody’s: Aa2
|
| Standard & Poor’s: AA
|
|
|
| Class C notes
|
| Amount: | €18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Ratings: | Moody’s: A2
|
| Standard & Poor’s: A
|
|
|
| Class D notes
|
| Amount: | €15.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 365 bps
|
| Ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB
|
|
|
| Class E notes
|
| Amount: | €21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 540 bps
|
| Ratings: | Moody’s: Ba2
|
| Standard & Poor’s: BB
|
|
|
| Class F notes
|
| Amount: | €10.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 665 bps
|
| Ratings: | Moody’s: B2
|
| Standard & Poor’s: B
|
|
|
| Equity tranche
|
| Amount: | €30.52 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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