BNP Paribas Leveraged Funds closes on new CLO to invest in European LBO debt

By Sara Rosenberg

New York, Oct. 20 - BNP Paribas Leveraged Funds Group closed on a new €306.5 million managed collateralized loan obligation fund called Leveraged Finance Europe Capital III BV that will primarily invest in senior leveraged buyout debt across Europe.

This is the third CLO to be managed by the Leveraged Funds Group, with the first being Leveraged Finance Europe Capital I BV that invests in leveraged loans launched by a European bank and the second being Leveraged Finance Europe Capital II BV.

"This third transaction demonstrated the attractiveness of LFG as a manager of CLOs as the fund was heavily oversubscribed. We have been delighted by the quality of the execution of the transaction and by the broadening of our investor base," said Jean Bergeret, head of Leveraged Finance Europe, in a company news release.

"We have managed to obtain the lowest cost of financing ever for such a CLO fund in Europe, due to a combination of a favorable market, a good execution and the good performance of our two previous transactions," added Francois Gauvin, head of the CLO group, in the release.

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