By Cristal Cody
Tupelo, Miss., Feb. 14 – Spire Partners LLP priced €447.8 million of notes due April 17, 2032 in the new Aurium CLO V DAC transaction on Thursday, according to a market source.
The offering included €272.8 million of class A floating-rate notes; €23.8 million of class B-1 floating-rate notes; €18 million of class B-2 fixed-rate notes; €31.9 million of class C floating-rate notes; €24.2 million of class D floating-rate notes; €25.3 million of class E floating-rate notes; €11 million of class F floating-rate notes and €40.8 million of subordinated notes.
Final pricing details were not immediately available.
BofA Merrill Lynch was the placement agent.
Spire Partners will manage the CLO, which has a 4.5-year reinvestment period.
The issue is backed primarily by senior secured loans and bonds.
Spire Partners is a fund management firm based in London.
| Issuer: | Aurium CLO V DAC
|
| Amount: | €447.8 million
|
| Maturity: | April 17, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Merrill Lynch
|
| Manager: | Spire Partners LLP
|
| Pricing date: | Feb. 14
|
| Settlement date: | April 4
|
|
|
| Class A notes
|
| Amount: | €272.8 million
|
| Securities: | Floating-rate notes
|
| Ratings: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €23.8 million
|
| Securities: | Floating-rate notes
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €18 million
|
| Securities: | Fixed-rate notes
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €31.9 million
|
| Securities: | Floating-rate notes
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | €24.2 million
|
| Securities: | Floating-rate notes
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €25.3 million
|
| Securities: | Floating-rate notes
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €11 million
|
| Securities: | Floating-rate notes
|
| Rating: | Fitch: B-
|
|
|
| Equity
|
| Amount: | €40.8 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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