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Spire Partners refinances 271.5 million Aurium CLO III notes; European deal volume eyed
By Cristal Cody
Tupelo, Miss., Oct. 3 Spire Partners LLP priced 271.5 million of notes in a refinancing of a vintage 2017 CLO deal.
Refinancing and new issue activity is picking up in the European market after a summer lull with several deals expected to price soon, according to market sources.
More than 20 billion of euro-denominated CLOs have priced so far this year, a source said.
Aurium CLO III repriced
Spire Partners priced 271.5 million of notes due April 15, 2030 in a refinancing of the vintage 2017 Aurium CLO III DAC transaction, according to an issuers notice on Thursday.
The CLO sold 220 million of class A-R senior secured floating-rate notes at Euribor plus 67 basis points in the AAA-rated tranche.
Barclays was the refinancing placement agent.
In the original 387.35 million transaction issued May 12, 2017, the CLO had priced 220 million of the class A senior secured floating-rate notes at par to yield Euribor plus 88 bps.
The CLO is backed primarily by senior secured loans or senior secured bonds.
Spire Partners is a fund management firm based in London.
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