Chicago, Feb. 24 – Barclays Bank plc sold a £4 billion equivalent collateralized loan obligation issued by Duke Global Funding Ltd., according to the listing particulars and a press release.
The notes will mature on Dec. 16, 2050.
The CLO consists of £1.16 billion of class A-1 senior secured floating-rate notes at Sonia plus 190 basis points, $1.94 billion of class A-2 senior secured floating-rate notes at Libor plus 190 bps and £1.44 billion of subordinated notes.
Barclays will manage the collateral through the end of the reinvestment period in March 2024.
The notes will be backed by senior secured and senior loans originated by Barclays to borrowers based in Western Europe and the United States.
Barclays was the placement agent.
Barclays is a London-based multinational investment bank and financial services company.
Issuer: | Duke Global Funding Ltd.
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Issue: | Floating-rate notes and subordinated notes
|
Amount: | £4 billion
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Maturity: | Dec. 16, 2050
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Structure: | Cash flow balance-sheet CLO
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Placement agent: | Barclays
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Manager: | Barclays
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Settlement date: | Nov. 8, 2021
|
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Class A-1 notes
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Amount: | £1,156,000,000
|
Securities: | Senior secured floating-rate notes
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Coupon: | Sonia plus 190 bps
|
Rating: | Moody's: Aa2
|
|
Class A-2 notes
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Amount: | $1,944,000,000
|
Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 190 bps
|
Rating: | Moody's: Aa2
|
|
Subordinated notes
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Amount: | £1,435,880,000
|
Securities: | Subordinated notes
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