Chicago, March 25 – Spire Management Ltd. priced €402.4 million of notes due May 15, 2034 in a new collateralized loan obligation with Aurium CLO VII DAC listed as issuer, according to a notice.
The CLO has €248 million of class A senior secured floating-rate notes at Euribor plus 83 basis points, €21.5 million of class B-1 senior secured floating-rate notes at Euribor plus 125 bps and €12.5 million of class B-2 1.65% senior secured fixed-rate notes.
Lower, there are €34 million of class C senior secured deferrable floating-rate notes at Euribor plus 205 bps, €25 million of class D senior secured deferrable floating-rate notes at Euribor plus 310 bps, €20 million of class E senior secured deferrable floating-rate notes at Euribor plus 586 bps and €13 million of class F senior secured deferrable floating-rate notes at Euribor plus 806 bps.
There are also $28.4 million of subordinated notes.
Spire is managing the CLO for its four-year reinvestment period.
Collateral for the portfolio comes chiefly from senior secured obligations with most obligors based in Western Europe.
The portfolio will be at least 80% ramped by closing.
Barclays is the underwriter.
Spire is a fund management firm based in London.
| Issuer: | Aurium CLO VII DAC
|
| Issue: | Floating-rate, fixed-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Amount: | €402.4 million
|
| Maturity: | May 15, 2034
|
| Agent: | Barclays
|
| Manager: | Spire Management Ltd.
|
| Pricing date: | March 25
|
| Settlement date: | April 9
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 83 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | €21.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 125 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | €12.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.65%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | €34 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 205 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
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| Amount: | €25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 310 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | €20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 586 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Class F notes
|
| Amount: | €13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 806 bps
|
| Rating: | Moody's: B3
|
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