By Cristal Cody
Tupelo, Miss., June 19 – Oaktree Capital Management (UK) LLP priced €412.85 million of notes due 2031 in a new broadly syndicated collateralized loan obligation issue, according to a market source.
Arbour CLO V Ltd. sold €1.75 million of class X floating-rate notes at Euribor plus 40 basis points and €248 million of class A floating-rate notes at Euribor plus 82 bps.
The CLO priced €20 million of 2.07% class B-1 fixed-rate notes and €22 million of class B-2 floating-rate notes at Euribor plus 140 bps.
Arbour CLO V also sold €26 million of class C floating-rate notes at Euribor plus 185 bps; €21 million of class D floating-rate notes at Euribor plus 275 bps; €23 million of class E floating-rate notes at Euribor plus 520 bps; €12 million of class F floating-rate notes at Euribor plus 755 bps and €39.1 million of subordinated notes.
BofA Merrill Lynch was the placement agent.
Oaktree Capital Management (UK) will manage the CLO.
Proceeds from the deal will be used to purchase a €400 million portfolio of mostly European leveraged loans and bonds.
London-based Oaktree Capital Management (UK) is an affiliate of Los Angeles-based Oaktree Capital Management, LP.
| Issuer: | Arbour CLO V Ltd.
|
| Amount: | €412.85 million
|
| Maturity: | 2031
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Merrill Lynch
|
| Manager: | Oaktree Capital Management (UK) LLP
|
| Pricing date: | June 14
|
|
|
| Class X notes
|
| Amount: | €1.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 40 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | €248 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 82 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €20 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.07%
|
| Rating: | Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €22 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 140 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €26 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 185 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | €21 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 275 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | €23 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 520 bps
|
| Rating: | Fitch: BB
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 755 bps
|
| Rating: | Fitch: B-
|
|
|
| Equity
|
| Amount: | €39.1 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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