Five Arrows to price €412 million notes in Contego CLO VI deal

By Cristal Cody

Tupelo, Miss., Oct. 22 – Five Arrows Managers LLP intends to price a new €412 million collateralized loan obligation offering of notes due October 2031, according to a market source.

The Contego CLO VI DAC transaction is expected to include €1.5 million of class X senior secured floating-rate notes (Aaa); €248 million of class A senior secured floating-rate notes (Aaa); €10.5 million of class B-1 senior secured fixed-rate notes (Aa2); €29.5 million of class B-2 senior secured floating-rate notes (Aa2); €28 million of class C senior secured deferrable floating-rate notes (A2); €22 million of class D senior secured deferrable floating-rate notes (Baa3); €22 million of class E senior secured deferrable floating-rate notes (Ba2); €12 million of class F senior secured deferrable floating-rate notes (B2) and €38.5 million of subordinated notes.

Merrill Lynch International is the placement agent.

Five Arrows will manage the CLO, which has a two-year non-call period and a five-year reinvestment period.

The transaction is backed by senior secured obligations.

The deal is expected to close on Dec. 3.

Five Arrows Managers is a London-based subsidiary of the Rothschild Group.

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