By Cristal Cody
Tupelo, Miss., Dec. 11 – Natixis Asset Management priced €308.4 million of notes due 2031 in a euro-denominated broadly syndicated collateralized loan obligation transaction, according to market sources.
Purple Finance CLO 1 DAC sold €173.7 million of class A senior secured floating-rate notes at Euribor plus 80 basis points; €45.7 million of class B senior secured floating-rate notes at Euribor plus 130 bps; €20.4 million of class C senior secured deferrable floating-rate notes at Euribor plus 175 bps; €15 million of class D senior secured deferrable floating-rate notes at Euribor plus 280 bps; €13.8 million of class E senior secured deferrable floating-rate notes at Euribor plus 505 bps; €9.5 million of class F senior secured deferrable floating-rate notes at Euribor plus 700 bps and €30.3 million of subordinated notes.
Natixis SA was the underwriter.
Natixis Asset Management will manage the CLO, which is backed primarily by euro-denominated senior secured leveraged loans and bonds.
The investment management firm is based in Paris.
| Issuer: | Purple Finance CLO 1 DAC
|
| Amount: | €308.4 million
|
| Maturity: | 2031
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis SA
|
| Manager: | Natixis Asset Management
|
| Pricing date: | Dec. 1
|
| Settlement date: | Jan. 10
|
|
|
| Class A notes
|
| Amount: | €173.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 80 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €45.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 130 bps
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €20.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €15 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 280 bps
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | €13.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 505 bps
|
| Ratings: | Moody’s: Ba2
|
| S&P: BB
|
|
|
| Class F notes
|
| Amount: | €9.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 700 bps
|
| Ratings: | Moody’s: B2
|
| S&P: B-
|
|
|
| Equity
|
| Amount: | €30.3 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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