Chicago, Sept. 23 – Five Arrows Managers LLP priced a new €459.9 million collateralized loan obligation offering of notes due May 14, 2032, according to a market source.
Contego CLO VII DAC sold €279 million of class A floating-rate notes at Euribor plus 93 basis points; €25 million of class B-1 2.2% fixed-rate notes; €22.8 million of class B-2 floating-rate notes at Euribor plus 160 bps; €32 million of class C floating-rate notes at Euribor plus 240 bps; €26.1 million of class D floating-rate notes at Euribor plus 395 bps; €20.1 million of class E floating-rate notes at Euribor plus 618 bps; €13.6 million of class F floating-rate notes at Euribor plus 876 bps and €41.3 million of subordinated notes.
The reinvestment period ends June 19, 2024.
The transaction is backed mainly by senior secured obligations.
Bank of New York Mellon, London Branch is the agent.
Five Arrows Managers is a London-based subsidiary of the Rothschild Group.
| Issuer: | Contego CLO VII DAC
|
| Amount: | €459.9 million
|
| Maturity: | May 14, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Bank of New York Mellon, London Branch
|
| Manager: | Five Arrows Managers LLP
|
| Pricing date: | Sept. 23
|
| Settlement date: | Nov. 14
|
|
|
| Class A notes
|
| Amount: | €279 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 93 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €25 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.2%
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €22.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 160 bps
|
| Rating: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €32 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | €26.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 395 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €20.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 618 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | €13.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 876 bps
|
| Rating: | Fitch: B-
|
|
|
| Equity
|
| Amount: | €41.3 million
|
| Securities: | Subordinated notes
|
| Rating: | Non-rated
|
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