Chicago, Feb. 10 – Nassau Corporate Credit (UK) LLP sold €355.1 million in a collateralized loan obligation being issued by Nassau Euro CLO I DAC, according to a pre-sale report.
The notes will mature on Dec. 15, 2034.
The CLO consists of €217 million of class A senior secured floating-rate notes at Euribor plus 105 basis points, €25 million of class B-1 senior secured floating-rate notes at Euribor plus 189 bps, €10 million of class B-2 senior secured floating-rate notes at Euribor plus 220 bps, €23.6 million of class C senior secured deferrable floating-rate notes at Euribor plus 270 bps, €21.9 million of class D senior secured deferrable floating-rate notes at Euribor plus 380 bps, €17.5 million of class E senior secured deferrable floating-rate notes at Euribor plus 667 bps, €10.5 million of class F senior secured deferrable floating-rate notes at Euribor plus 939 bps and €29.6 million of subordinated notes.
Nassau Corporate Credit (UK) LLP will manage the collateral through the end of the 4.5-year reinvestment period.
Collateral for the notes will come from a portfolio of senior, mezzanine, second-lien loans and high-yield bonds.
Barclays plc was the placement agent.
Based in the United Kingdom, Nassau Corporate Credit is an asset manager.
| Issuer: | Nassau Euro CLO I DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €355.1 million
|
| Maturity: | Dec. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays plc
|
| Manager: | Nassau Corporate Credit (UK) LLP
|
| Settlement date: | Dec. 22
|
|
|
| Class A notes
|
| Amount: | €217 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 105 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 189 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €10 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 220 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €23.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 270 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €21.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 380 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €17.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 667 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 939 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €29.6 million
|
| Securities: | Subordinated notes
|
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