First post-Brexit CLO prices; Accunia taps Europe with €421.23 million debut CLO deal

By Cristal Cody

Eureka Springs, Ark., July 5 – The first euro-denominated CLO post-Brexit has priced, according to a market source on Tuesday.

Accunia Credit Management Fondsmaeglerselskab A/S brought a €421.23 million debut CLO offering to market.

More than €7.5 billion of euro-denominated CLOs have priced year to date, according to Prospect News data.

Accunia sells €421.23 million

Accunia Credit Management priced €421.23 million of notes due July 15, 2030 in the CLO transaction, according to a market source.

Accunia European CLO I BV sold €237.75 million of class A senior secured floating-rate notes at Euribor plus 143 basis points at the top of the capital stack.

Deutsche Bank AG, London Branch arranged the deal.

The CLO has a two-year non-call period and a four-year reinvestment period.

The deal is backed primarily by broadly syndicated European senior secured loans and bonds.

Accunia Credit Management is a Copenhagen-based investment management firm.

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