Chicago, March 8 – Permira European CLO Manager LLP sold €406.6 million in a collateralized loan obligation issued by Providus CLO VI DAC, according to press release.
The notes will mature on May 22, 2034.
The CLO consists of €244.7 million of class A senior secured floating-rate notes at Euribor plus 97 basis points, €26 million of class B-1 senior secured floating-rate notes at Euribor plus 170 bps, €15 million of class B-2 2.05% senior secured fixed-rate notes, €27.8 million of class C senior secured deferrable floating-rate notes at Euribor plus 210 bps, €26.9 million of class D senior secured deferrable floating-rate notes at Euribor plus 320 bps, €21 million of class E senior secured deferrable floating-rate notes at Euribor plus 611 bps, €11.6 million of class F senior secured deferrable floating-rate notes at Euribor plus 875 bps and €33.6 million of subordinated notes.
Permira European CLO Manager LLP will manage the collateral through the end of the 4.7-year reinvestment period.
Collateral for the notes consists of senior secured obligations.
Merrill Lynch International was the placement agent.
The structured credit firm is based in London.
| Issuer: | Providus CLO VI DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €406.6 million
|
| Maturity: | May 22, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Manager: | Permira European CLO Manager LLP
|
| Settlement date: | Dec. 15, 2021
|
|
|
| Class A notes
|
| Amount: | €244.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 97 bps
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €26 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2.05%
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €27.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 210 bps
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €26.9 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 320 bps
|
| Rating: | Moody's: Baa3
|
| S&P: BBB
|
|
|
| Class E notes
|
| Amount: | €21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 611 bps
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €11.6 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 875 bps
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €33.6 million
|
| Securities: | Subordinated notes
|
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