By Cristal Cody
Tupelo, Miss., April 25 – Spire Partners LLP priced €246.5 million of notes due April 26, 2029 in the Aurium CLO I DAC transaction, a refinancing of the vintage 2015 Aurium CLO I Ltd. deal, according to a market source.
The CLO sold €179.5 million of class A-R senior secured floating-rate notes at Euribor plus 80 basis points, €33.5 million of class B-R senior secured floating-rate notes at Euribor plus 140 bps, €18 million of class C-R senior secured deferrable floating-rate notes at Euribor plus 180 bps and €15.5 million of class D-R senior secured deferrable floating-rate notes at Euribor plus 280 bps.
Spire Partners will continue to manage the CLO.
In the original Aurium CLO I transaction priced on March 3, 2015, the CLO sold €179.5 million of class A senior secured floating-rate notes at Euribor plus 130 bps; €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.
Proceeds will be used to redeem the original class A, B, C and D notes.
The CLO is backed primarily by senior secured loans or senior secured bonds.
Spire Partners is a fund management firm based in London.
| Issuer: | Aurium CLO I DAC
|
| Amount: | €246.5 million refinancing
|
| Maturity: | April 26, 2029
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Manager: | Spire Partners LLP
|
| Pricing date: | April 21
|
|
|
| Class A-R notes
|
| Amount: | €179.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 80 bps
|
| Rating: | Moody’s: Aaa
|
|
|
| Class B-R notes
|
| Amount: | €33.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 140 bps
|
| Rating: | Moody’s: Aa2
|
|
|
| Class C-R notes
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| Amount: | €18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Rating: | Moody’s: A2
|
|
|
| Class D-R notes
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| Amount: | €15.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 280 bps
|
| Rating: | Moody’s: Baa2
|
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