Chicago, May 25 – Spire Management Ltd. priced a new €442.8 million CLO issued by Aurium CLO VIII DAC with a June 23, 2034 maturity date, according to a notice.
The portfolio includes €272.8 million of class A senior secured floating-rate notes at Euribor plus 85 basis points, €30.8 million of class B-1 senior secured floating-rate notes at Euribor plus 150 bps, €5.5 million of class B-2 1.9% senior secured fixed-rate notes and €7.7 million of class B-3 1.9% senior secured fixed-to-floating rate notes.
There are also €30.8 million of class C senior secured deferrable floating-rate notes at Euribor plus 195 bps, €27.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 300 bps, €23.1 million of class E senior secured deferrable floating-rate notes at Euribor plus 580 bps and €13.2 million of class F senior secured deferrable floating-rate notes at Euribor plus 854 bps.
Additionally, there are €31.4 million of subordinated notes.
Deutsche Bank AG, London Branch is listed as the arranger and underwriter.
Spire Management will select the collateral during the 4.5-year reinvestment period.
Collateral will primarily come from senior secured obligations.
The portfolio will be around 90% ramped by closing in late June.
Spire is a fund management firm based in London.
| Issuer: | Aurium CLO VIII DAC
|
| Issue: | Floating-rate, fixed-rate, fixed-to-floating-rate and subordinated notes
|
| Amount: | €442.8 million
|
| Maturity: | June 23, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG, London Branch
|
| Manager: | Spire Management Ltd.
|
| Settlement date: | June 30
|
|
|
| Class A notes
|
| Amount: | €272.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 85 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | €30.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 150 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
|
| Amount: | €5.5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.9%
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-3 notes
|
| Amount: | €7.7 million
|
| Securities: | Senior secured fixed-to-floating rate notes
|
| Coupon: | 1.9%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | €30.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 195 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | €27.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Rating: | Moody's: Baa3
|
|
|
| Class E notes
|
| Amount: | €23.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 580 bps
|
| Rating: | Moody's: Ba2
|
|
|
| Class F notes
|
| Amount: | €13.2 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 854 bps
|
| Rating: | Moody's: B2
|
|
|
| Subordinated notes
|
| Amount: | €31.4 million
|
| Securities: | Subordinated notes
|
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