Chicago, May 2 – Spire Management Ltd. sold €403 million in a collateralized loan obligation being issued by Aurium CLO IX DAC, according to a press release.
The notes will mature on Oct. 30, 2034.
The CLO consists of €248 million of class A senior secured floating-rate notes at Euribor plus 95 basis points, €31 million of class B-1 senior secured floating-rate notes at Euribor plus 175 bps, €10 million of class B-2 2.2% senior secured fixed-rate notes, €23 million of class C senior secured deferrable floating-rate notes at Euribor plus 250 bps, €29 million of class D senior secured deferrable floating-rate notes at Euribor plus 350 bps, €20 million of class E senior secured deferrable floating-rate notes at Euribor plus 670 bps, €13 million of class F senior secured deferrable floating-rate notes at Euribor plus 936 bps and €29 million of subordinated notes.
Spire Management Ltd. will manage the collateral through the end of the 4.5-year reinvestment period.
Collateral for the notes consists of euro-denominated senior secured loans and bonds issued by speculative-grade borrowers.
Credit Suisse International was the placement agent.
Spire is a fund management firm based in London.
| Issuer: | Aurium CLO IX DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €403 million
|
| Maturity: | Oct. 30, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse International
|
| Manager: | Spire Management Ltd.
|
| Settlement date: | April 7
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 95 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €31 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 175 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.2%
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 250 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €29 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 350 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 670 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 936 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €29 million
|
| Securities: | Subordinated notes
|
|
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