Published on 8/6/2018 in the Prospect News CLO Daily.
New Issue: Barclays Bank prices £5.04 billion of notes in multi-currency Sirius Funding CLO
By Cristal Cody
Tupelo, Miss., Aug. 6 – Barclays Bank PLC priced £5.04 billion of notes due July 14, 2039 in a new multi-currency denominated collateralized loan obligation, according to a market source.
Sirius Funding plc sold €1,265,625,000 of class A-1 senior secured floating-rate notes, $1,527,525,000 of class A-2 senior secured floating-rate notes and £1,125,000,000 of class A-3 senior secured floating-rate notes.
The CLO also priced £1,125,000,000 of subordinated notes.
Barclays was the underwriter.
The CLO is collateralized primarily by senior secured and senior unsecured loans originated by Barclays and denominated in euros, dollars and pounds.
Barclays Bank is a bank and financial services company based in London.
| Issuer: | Sirius Funding plc
|
| Amount: | £5,043,150,000
|
| Maturity: | July 14, 2039
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Barclays
|
| Manager: | Barclays Bank PLC
|
| Settlement date: | June 28
|
|
|
| Class A-1 notes
|
| Amount: | €1,265,625,000
|
| Securities: | Senior secured floating-rate notes
|
| Ratings: | Moody’s: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | $1,527,525,000
|
| Securities: | Senior secured floating-rate notes
|
| Ratings: | Moody’s: Aaa
|
|
|
| Class A-3 notes
|
| Amount: | £1,125,000,000
|
| Securities: | Senior secured floating-rate notes
|
| Ratings: | Moody’s: Aaa
|
|
|
| Equity
|
| Amount: | £1,125,000,000
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
|
|
|
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